Evaluate the existing data retention policy at [CompanyName] and propose enhancements to meet the requirements of [ApplicableRegulation] and ensure the minimization of data retention periods. Identify which data categories should be archived, deleted, or anonymized after the retention period expires. Include a clear timeline for policy implementation, and suggest technologies that can automate data retention processes to align with privacy regulations. Provide a template for a data retention policy that outlines specific actions for different data types.