There are at least four ways to back up a Postgres database: SQL dump, filesystem snapshots, continuous archiving, and third-party tools. For each, notes on the recovery point objective (or RPO, which is a measure of how up-to-date your application and business needs will require the data to be) and recovery time objective (or RTO, which is a measure of how quickly the restore needs to be completed after an outage begins) are provided. You should weigh these indicators against your business requirements for the data in question. Note that you might best achieve RTO by using a high-availability solution in addition to backups. Assuming the outage is not replicated or otherwise affecting a replica, then a failover will allow time for an extended restore.