Yes.  More specifically:

• Events can be configured so that they're kept a specified amount of time, after which they are deleted.
• Identities (i.e. biometric signatures) can be configured so that they're kept a specified amount of time, after which they're deleted. Identities can also be configured to be deleted if certain matching certain metadata criteria are met. (e.g. no name or person type was assigned to the biometric information)