Backup is important for recovering important files and data, in the event they are lost either due to system failures, viruses etc.
Websites carry with them a lot of information, which includes unseen public data yet needs to be processed on the backend, for availability of the entire content made public to the website visitors.
If you host files for a website you maintain or online projects; it’s always recommended to do regular backups to ensure you don’t stress out in the event of data loss or accidental wrong configuration for your domain.

Hosting Level Backups vs Plugin Backups

Most webs Hosting companies do provide backup options for files hosted in any of their account. As an admin you receive the login details from the hosting provider which allows you access to the control panel to find the backup settings and files alike
Price: Some webhosts, may not offer automatic backups but would require you to purchase the plan separately. On the other hand, there are free backup plugins, as well as premium that offer advanced functionalities too.
Location: webhost backups versions depend on the size of the webdisk you have (might limit you if your files are larger and frequency you need to have backups done). Plugins would provide an independent choice of where you would like to store these backup files – when it comes to restoration process though, it might not be easy as the webhost version.
Functionality: What exactly are you looking to backup or restore? Very few webhost provide this flexibility of choosing what parts of the site or specific files to backup, instead of doing a full-scale backup; popular plugins have this flexibility always.
Usability: How friendly is the user interface of your webhost backup script? Also, if there are advanced options from both the webhost account and plugin, how complicated is it to work your way around?

Both have their pros and cons depending on what you are looking for.