Azure Backup is a simple and cost-effective backup-as-a-service solution that extends tried-and-trusted tools on-premises with rich and powerful tools in the cloud. Microsoft today announced the general availability of backup for premium storage virtual machines using Azure Backup to protect enterprise applications such as Oracle DB, Cassandra and SAP running on Azure IaaS. It is available in all regions where premium storage is offered.
Backup can be enabled for both classic as well as ARM (Azure Resource Manager) virtual machines with premium disks. Restore process provides the flexibility to restore the data to either premium or standard storage accounts. If the restored virtual machine needs the same performance characteristics as premium storage, it can be restored to a premium storage account; for all other use cases, it can be restored to VMs for standard storage, which is cheaper.
Read about it in detail here.