Embodiments of the present invention provide a hybrid (e.g., local and remote) approach for data backup in a networked computing environment (e.g., a cloud computing environment). In a typical embodiment, a set of storage configuration parameters corresponding to a set of data to be backed up is received and stored in a computer data structure. The set of storage configuration parameters can comprise at least one of the following: a recovery time objective (RTO), a recovery point objective (RPO), and a desired type of protection for the set of data. Regardless, the set of data is compared to previously stored data to identify at least one of the following: portions of the set of data that have commonality with the previously stored data; and portions of the set of data that are unique to the set of data (i.e., not in common with any of the previously stored data). The above-described process is referred to herein as “de-duplication”. A storage solution is then determined based on the set of storage configuration parameters. In general, the storage solution identifies at least one local storage resource and at least one remote storage resource (e.g., a cloud storage resource) for backing up the portions of the set of data that are unique to the set of data. Once the storage solution has been determined, the unique portions of the set of data will be stored in accordance therewith.