The solution we at Richie advocate is simple. You don’t start with the raw data. You start with the questions you want answered. Then you collect the data you need (and just the data you need) to answer those questions.
Think this way for a while, and you notice a key factor: old data usually isn’t very interesting. You’ll be much more interested in what your users are doing right now than what they were doing a year ago. Sure, spotting trends in historical data might be cool, but in all likelihood it isn’t actionable. Today’s data is.
This is the same with YNAB principle that old data doesn’t mean a thing now, you only budget what you have now.
Only collect necessary data if you want a specific question you want answers to.
Excerpts from https://www.richie.fi/blog/data-is-a-liability.html