If I only knew it was this easy in the first place. Not joke, the data backup feature in the Simple Control Panel provided with dedicated servers from godaddy.com is a snap to configure.
However the interface is only data. If they could tap into mysql dump it would be a truley amazing feature. For now you have to configure that on it's own. The back up of your mysql data, add it to the folders you want to back up then have your backup scheduled.
To tie this all together create a shell script that dumps your mysql data into a compressed file:
Add this to a file and name it website.sh
mysqldump -u root -p password databasename | gzip > /home/website/public_html/backups/website.sql.gz
Then enter the following into a new Cron Tab entry...
The directions above work for godaddy's dedicated or virtual dedicated serves. Make sure if you're working with large data sets that you allow plenty of time to let the mysqldump to complete before performing the backup. To configure the back up itself go to the "Manage Backups" and configure the entire website along with the zipped data. You might want to "Rotate Backups" which means it you'll always more then one on file just in case, just in case.
Make sure to enable FTP. It's not good enough to have the data there safe in a zip file in a different location. If your dedicated / virtual dedicated servers go, they're gone. You are responsible for having a back plan in place, and they won't mount the drive to another, server, etc, they will do nothing, and they shouldn't, its in your contract. And if you're thinking ahead, they won't even as a servers. Your data is gone, as mine was when the kernel on my server when south.
The ftp area is very easy to configure, make sure to time it out a ways to let the data backups finish and if you can at all help it schedule all of your other server wide cron jobs around 'back up time', why not, let it breathe like a fine wine. Once it's complete, test, if you're backing up to another account at godaddy, its going to FLY, trust me. Also, this post isn't complete with out sending a virtual thank you to the CEO at Diligex for providing me with 2 gigs of space to get this all done.
Lastly, file sizes. The backup area has an "exclude folders" option so you can bifurcate your backups, the important areas every night and your huge downloads or images folder every week, the reason? Bandwidth, for the source and target server, each backup will burn some. If you don't have to worry about this then let it ride.