RTO - Recovery Time Objective. How long does it take to get the data back? You might have archives that you can wait a week for transportation and recovery. Your corporate database might require a maximum of 2 hours.
RPO - Recovery Point Objective. How close do you have to get to what you want? For old data, we might only be able to recover to a nearby weekly or monthly full. We've decided that other data is mostly redundant. Again, for critical databases, we might decide that losing more than 2 hours of data isn't acceptable, so we'll be doing backups more often.
Most small to medium sites have a small number of machines/services with low RTO/RPO and no need to examine the differences in great detail.
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Darren