Explanation
* Backups are stored locally in the Fast Recovery Area of the DB System.
* Durability: Low
* Availability: Medium
* Back Up and Recovery Rate: High
* Advantages: Optimized back up and fast point-in-time recovery.
* Disadvantages: If the DB System becomes unavailable, the backup is also unavailable.
Local Storage
https://docs.cloud.oracle.com/en-us/iaas/Content/Database/Tasks/backingup.htm