I'm going to take this a little more literally/extreme than you probably intended, just because a lot of people get this a bit wrong.
Yes and no, depending on your definition of deleted.
For example, say you have an account at a store and made a purchase, then you want to close/delete your account as you don't want it anymore. If I were to delete it, who would the transaction you made belong to? I can't get rid of it for record keeping, and probably not for the next 5-10 years, so if you delete the account, 95% of the time it will just be a flag in the database that will be "Am I deleted" that's set to enabled, and your account for most intents and purposes is now deleted, but we don't lose/orphan those transactions.
Now lets take something like a post on this forum, deleting that, that technically doesn't matter if I delete it since there should be no associations to it, so could hard delete it, but what happens if someone replies? So can either soft delete, keep the information and flip the flag, or hard delete and have it so the system handles information not existing, there it's a choice. Usually I'd do both since would want to keep history for a week and then let it get cleaned up at a later stage.
Now lets say that data only ever existed in memory, e.g. you open notepad, type some text in there and then close without removing, assuming it never memory dumped or anything, that information will only have existed in something volatile like RAM, so it's pretty much gone. If you ever saved and deleted in non-volatile memory, a piece of it could probably live on as depending on how the system works, e.g. NTFS for Windows, it's just flagged as being gone and once you need space you change the bits to be the new file. You could also check based on patterns left etc. what the data that was there is.
Overall though, eventually it will be gone, but deletion is rarely truly deletion in most modern systems, and especially not so for business systems where transactions must be stored for record keeping.