Microsoft takes care of quite a bit, and provides a great service for their customers. However, Microsoft’s primary focus is managing the Office 365 infrastructure and maintaining uptime to your users. They are empowering YOU with the responsibility of your data.
Ultimately, you need to ensure you have access to, and control over, your Exchange Online, SharePoint Online and OneDrive for Business data.
This report explores the hazards of not having an Office 365 backup in your arsenal, and why backup solutions for Office 365 fill the gap of long-term retention and data protection.