What is the difference between the «Backup Type» option values in «Scheduled Backup Settings» backend configuration block?

The option has 4 possible values:

  • «Database»
  • «Database and Media»
  • «System»
  • «System (excluding Media»

Magento/Backup/etc/adminhtml/system.xml

Magento\Backup\Model\Config\Source\Type::toOptionArray()

Magento\Backup\Helper\Data::getBackupTypes()

The constants

Conclusion

The «Backup Type» option values have the following meaning:

  • «Database»: only the database will be backed up
  • «Database and Media»: the database and the media files (the products images) will be backed up, but the software code will not be backed up.
  • «System»: the full backup
  • «System (excluding Media)»: the full backup without the media files (the products images)