Thanks Ted. Adding to Ted's point.
In general we could use the above flow. But If in the case of some connectors like Salesforce,NetSuite,HTTP Client etc, we could check the checkbox Return Application Responses( alike), then right after the connector we could use a single decision shape and could check for any error in the file on the basis of some field value in the objects like success: false or success: true.
Retrieving data ...