By default after SAS is installed, in the SAS metadata you have daily backups (of the metadata only), except on Sundays. You can change this configuration. The location of those backups and all the configuration can be found in the SAS Management Console.
In addition to these backups, when you have middle tier, you will have as well the SAS Deployment Backup and Recovery tool backups, which will backup, by default, your SAS metadata, your SAS WIP database and your SAS Content Server plus a few configuration files from metadata and compute. This backup, by default, is once weekly on Saturdays. The location and configuration can be found and adjusted on your SAS Backup web application or with the SAS administration framework CLI executables.
In general, the second one is more complete, however the first one will allow you to rollback metadata changes easily from the SAS Management Console, which can be very convenient at times. I do suggest to keep both backups, to ensure they both happen on daily basis, and at different times, from each other and from your storage backups, to prevent file locks.