Data retrieval in case of human-error disaster

The "Oh @#$!" button is great.  Now what happens if we accidentally wipe out some crucial data and don't notice it right away?

I'm curious how our databases are backed up and managed on the hosted version--and whether we might have the option in a future version to restore data in the case of more egregious human error.  E.g. rolling back to a 'restore point'.  Perhaps something like OSX' time machine--hourly backups for the past 24 hours, then daily for the previous month, etc.  Call it the "Oh !#*&$)(* me with a ()*@@#" button.


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