A computer-based system to manage retention of data associated with a business record, comprising: at least one processor; logic instructions stored in a tangible computer readable medium which, when executed by the at least one processor, configure the at least one processor to: determine whether a business record has reached a record retention threshold, and in response to a determination that the business record has reached the record retention threshold, to: separate the business record into a plurality of data elements (320A-320E), wherein the data elements (320A-320E) have at least one defined retention policies associated therewith; apply one or more retention policies to plurality of data elements (320A-320E) in the business record. remove one or more data elements (320A-320E) which are unnecessary to maintain integrity of the business record. determine a selected storage location for each of the plurality of data elements (320A-320E) based on the at least one defined retention policy; and compress the plurality of data elements (320A-320E) in accordance with a first defined compression ratio; store each of the plurality of data elements (320A-320E) in the selected storage location. at least one processor; logic instructions stored in a tangible computer readable medium which, when executed by the at least one processor, configure the at least one processor to: determine whether a business record has reached a record retention threshold, and in response to a determination that the business record has reached the record retention threshold, to: separate the business record into a plurality of data elements (320A-320E), wherein the data elements (320A-320E) have at least one defined retention policies associated therewith; apply one or more retention policies to plurality of data elements (320A-320E) in the business record. remove one or more data elements (320A-320E) which are unnecessary to maintain integrity of the business record. determine a selected storage location for each of the plurality of data elements (320A-320E) based on the at least one defined retention policy; and compress the plurality of data elements (320A-320E) in accordance with a first defined compression ratio; store each of the plurality of data elements (320A-320E) in the selected storage location. determine whether a business record has reached a record retention threshold, and in response to a determination that the business record has reached the record retention threshold, to: separate the business record into a plurality of data elements (320A-320E), wherein the data elements (320A-320E) have at least one defined retention policies associated therewith; apply one or more retention policies to plurality of data elements (320A-320E) in the business record. remove one or more data elements (320A-320E) which are unnecessary to maintain integrity of the business record. determine a selected storage location for each of the plurality of data elements (320A-320E) based on the at least one defined retention policy; and compress the plurality of data elements (320A-320E) in accordance with a first defined compression ratio; store each of the plurality of data elements (320A-320E) in the selected storage location. separate the business record into a plurality of data elements (320A-320E), wherein the data elements (320A-320E) have at least one defined retention policies associated therewith; apply one or more retention policies to plurality of data elements (320A-320E) in the business record. remove one or more data elements (320A-320E) which are unnecessary to maintain integrity of the business record. determine a selected storage location for each of the plurality of data elements (320A-320E) based on the at least one defined retention policy; and compress the plurality of data elements (320A-320E) in accordance with a first defined compression ratio; store each of the plurality of data elements (320A-320E) in the selected storage location.