Both back up PG's WAL files (Write Ahead Log) and allow restoring your database state as it was at a specific time or after a specific transaction committed. This is known as point-in-time recovery (PITR) [0]
Users and admins make mistakes, and accidentally delete or overwrite data. With PITR you can restore in a new environment, just before the mistake occurred and recover the data from there.
[0] https://www.postgresql.org/docs/9.6/static/continuous-archiv...
However it might be interesting to stream WAL logs to e.g. AWS Kinesis....
I'm afraid to use a lot of storage for WAL segments that are mostly empty:
16 MB per segment x 60 minutes x 24 hours x 7 days = 161 GB/week
Does WAL-G/WAL-E compression help?
On a staging server with little activity, the compressed WAL-E wal files go as low as 1.9MB per 10 minutes. (~2GB/week)
The production server has files between 4 and 12MB per 1 minute or less. (~220GB/week)
WAL-E has a good `wal-e delete retain` command that removes older base backups and wal files.