Data collection is defined as the “process of gathering and measuring information on variables of interest, in an established systematic fashion that enables one to answer queries, stated research questions, test hypotheses, and evaluate outcomes.”

Data processing occurs when data is collected and translated into usable information. Usually performed by a data scientist or team of data scientists, it is important for data processing to be done correctly as not to negatively affect the product, or data output. Data processing starts with data in its raw form and converts it into a more readable format (graphs, documents, etc.), giving it the form and context necessary to be interpreted by computers and utilized by employees throughout an organization.

Data retention is the storing of information for a specified period. Data retention is primarily relevant to businesses that store data to service their customers and comply with government or industry regulations. Data retention is critical for modern organizations. Without it, companies might store too much information unnecessarily long, which leads to operational inefficiencies, increased costs, and legal and security risks.