The world of backup has come a long way since the days we relied upon fragile and error-prone tape subsystems.
Today, we have better options for our first-tier backups – high-speed disks and solid-state disks spring quickly to mind. Cloud is increasingly used as a first-tier backup solution.
Larger operations need more than one tier of backup. If that single backup fails and your primary storage is kaput, you are in deep trouble. Here you can have two physical backup tiers, but that means IT has to manage two sets of storage/backup infrastructure. With cloud backup, that storage infrastructure is managed for you, and all its costs are OPEX, rather than having to budget for more CAPEX expenditures.