The backup of the VM hosting service (on-premise) is as follows.

• Save one generation (once a week) backup to the same device
• Save 17 generations of snapshots (hourly:8th, daily:7th, weekly:2nd)

* What is a snapshot?
The backup saves the VM image itself, while the snapshot saves only the update data. If a disk fails, you cannot recover the data using just a snapshot.

Backup data is not saved in remote locations, so please take action if necessary.