Automated and self-adjusting data backup operations

Techniques for adjusting the frequency of data backups and initiating event-driven backups in a storage system are disclosed herein. In one embodiment, a self-adjusting backup frequency, known as a "Change Rate Objective," is defined to conduct or delay backups for one or more volumes in the storage system on the basis of an associated policy value. The Change Rate Objective may be tied to one or more business or data activity events, such as the amount and type of data changes since a last backup. The storage system may also be tailored to conduct or delay full or incremental backups on the basis of a Change Rate Objective that measures whether a full or incremental or differential backup is more appropriate. Various data or system failures, or data or business events may also be used to adjust the retention periods of continuous data protection (CDP) data and delay a rollup of CDP data.