Which statements describe the purpose of retention policies in Foundry? Select three.

Retention policies in Foundry serve several crucial functions related to data management, governance, and cost control.

One important purpose is to enforce data governance requirements by ensuring compliance with legal, regulatory, and organizational standards regarding data retention. This aspect is critical because organizations often need to adhere to specific policies that dictate how long data must be kept or when it must be deleted, thereby maintaining data integrity and compliance.

Additionally, retention policies play a vital role in minimizing storage costs. By setting clear guidelines on how long data should be retained, organizations can identify and remove data that is no longer necessary for business operations. This not only helps in reducing storage expenses but also streamlines the management of data resources.

Moreover, while retention policies are connected to data lifecycle management, they do not automatically version datasets or delete files permanently without following specified guidelines. Retention policies guide the deletion process based on the established criteria rather than performing these actions arbitrarily.

Therefore, the statements that retention policies enforce data governance and minimize storage costs are fundamental to their purpose within Foundry's data management framework.