Sometimes Office 365 can be infuriating. My latest tribulation came in the form of missing retention labels, which disappeared from SharePoint Online without any reason for two weeks. Some labels returned due to auto-label policies, but any applied to documents manually had a vacation somewhere in the bowels of the services. It wasn’t a good experience.
If you’re interested in deploying backups for SharePoint Online, you might be doing so to prevent data loss through accidental user deletion. However, Office 365 retention labels and policies can help prevent accidental deletion too. And the best thing is that retention policies and labels are part of Office 365 E3, so you don’t have to pay more to get protection.