There are many media rotation strategies you can use to protect your data. They differ mostly by the number of media required and by the amount of time the media is kept before it is rotated back into the schedule.
The most commonly used media rotation strategies include the following:
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Son, which uses the same media each day to run a full backup.
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Father/Son, which uses multiple media, includes a combination of weekly full and daily differential or incremental backups for a two-week schedule, and provides backups for offsite storage.
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Grandfather, which uses multiple media, includes a combination of weekly and monthly full and daily differential or incremental backups, and provides backups for offsite storage.