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As per Microsoft Online documentation “SharePoint Online retains backups of all content for 14 additional days beyond actual deletion. If content cannot be restored via the Recycle Bin or Files Restore, an administrator can contact Microsoft Support to request a restore any time inside the 14 day window .
Go to SharePoint Online files library, open Documents, select the needed files, right click the selected files, and in the context menu, click Download. Save the files to the local disk of your computer or to a portable disk that can be used to store your Office 365 SharePoint backup.
How do I backup Microsoft SharePoint Services?
Verify that the user account that is performing this procedure is a member of the Farm Administrators SharePoint group.
Should I backup SharePoint Online?
If you are using SharePoint Online, normally there is no need to backup data because it has already done the backup process periodically, such as: Second-level recycle bins.
You can back up a SharePoint Server farm by using the SharePoint Central Administration website, Microsoft PowerShell, or SQL Server tools. The backup tool that you use depends on the kind of environment that you have deployed, your backup schedule requirements, and service level agreements that you have with your organization.
Restoring the site backup in the newly created empty site: Open the destination site in SharePoint Designer and go to ‘Site’ -> ‘Administration’ -> ‘Restore Backup’. You will be prompted for the location of the backup file. You may provide the path where the .cmp file is located and click on ‘Open’ button. Upon clicking ‘Open’, you will get a ‘Restore Website’ dialog box.