Data backups is all about making copies of your important files and data (word docs, emails, spreadsheets, etc) on a regular basis so that in the event that your laptop\computer\hosting server fails then you do not loose files that your business relies on.
If your laptop\computer was stolen or lost tomorrow would your business be affected?
I know of companies whose main offices have burnt down but they have continued business with minimal disruption because they backed up their important data. Some companies fail when this happens because they cannot recover.
You should ask your hosting company about data backups. Or get some advice from someone.