Both companies run your email and files on redundant systems in several data centers. If a disk, a server or a whole building fails, you never notice. That is availability, and both vendors are excellent at it.
Neither vendor promises to restore data your company lost through its own actions after their retention periods end. Microsoft describes this as shared responsibility: it secures the platform, and the customer owns its data and the decision to back it up. Google's documentation makes the same point in other words. They look after the platform, you look after the data in it.