It is nigh-essential to have a Quicken Data Backup due to a multitude of reasons, which include:
It keeps data safe for the worst-case scenario;
Backup also helps in case of any migration.
To create a backup:
Navigate through File > Backup or Restore. Then choose Backup Quicken File;
Choose the location to backup, it can be an internal drive, external drive, or online drive;
Click on the Back up Now option to start the process.
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How To Take Quicken Data Backup?

Here you find all steps which need to create a Quicken Data Backup for safety and data. This blog elaborates on steps for Windows and Mac.