What is 'reference date' in SAP LOD-GDP-RM - Data Retention Manager?

reference date - Overview

• Component: LOD-GDP-RM

• Component Name: Data Retention Manager

• Description: The date from which retention rules or residence rules need to be applied. For example, the billing date or order completion date.

reference date - Details

• 
  Key Concepts: 
  Reference date is a term used in the LOD-GDP-RM Data Retention Manager component of SAP. It is the date used to determine which data should be retained and which should be deleted. The reference date is set by the user and can be changed at any time. 
  
  How to use it: 
  In order to use the reference date, the user must first set it in the Data Retention Manager. This can be done by selecting the “Set Reference Date” option from the menu. Once the reference date has been set, all data older than that date will be deleted. 
  
  Tips & Tricks: 
  It is important to remember that the reference date is not a static value and can be changed at any time. This allows users to easily adjust their data retention policies as needed. Additionally, users should ensure that they are aware of any legal or regulatory requirements regarding data retention before setting their reference date. 
  
  Related Information: 
  For more information on using the Data Retention Manager, please refer to SAP’s official documentation on the topic. Additionally, users may find it helpful to consult with their legal or compliance teams before setting their reference date in order to ensure that they are in compliance with any applicable laws or regulations.