Redshift can take automated data snapshots if a retention period is set. Regulations around retention period vary, however it is common to have a minimum of at least 7 days to ensure that data is available should the source become unavailable.
For automated snapshots created in the AWS Console, a retention period is set by default and it cannot be changed. However, you can create a copy of any snapshot and set a custom retention period for the copy. To do this, follow the steps in the AWS Console section. In Terraform, the automated schedule retention period can be altered; to do this, follow the steps in the Terraform section.
In AWS Console -
In Terraform -
References:
https://docs.aws.amazon.com/redshift/latest/mgmt/managing-snapshots-console.html
https://registry.terraform.io/providers/hashicorp/aws/latest/docs/resources/redshift_cluster#automated_snapshot_retention_period