Update 1 on CRM 2016 (Office 365) Notice

Hi

I had posted this on Office 365 and then was recommended to put her.

We are currently at Dynamics CRM 2016 (as add on Office 365). I have a notice of 'Update 1' The question I have is do I have to worry about any settings/rules etc. we have made? Are there any recommendations for pre-update, backups or any other measures, ahead of the time?

Timing is no issue since it Friday 6PM (11/4/2016).

Hope this is the correct forum to ask, being CRM on office 365.

Thanks,

Ashok