One of the great things about Drupal is that there is an active community supporting the software. This means that there are often updates to Drupal core, themes and modules that power your Drupal site. You want to make sure to update your site to get the latest and greatest features out of Drupal and to eliminate any security vulnerabilities that may have been patched.
Prior to updating anything on your Drupal site, make sure that you have a current backup. This will enable you to easily roll back if there is an issue with the update and restore your site to its previous state.
Now that you've backed up your site, the first thing you want to update is the core Drupal platform. When you are logged in as an admin, you will notice an alert when there is a new update available for Drupal. There will be a message informing you that there's a new release available and you'll want to proceed with updating Drupal core. Next you will want to look at updating contributed modules that you have installed as well as the installed theme.
By updating Drupal core, modules and themes, you will make sure that your website runs on the most current and secure software and has having the newest features available.
Check out the previous post in his Drupal series where Brant talks backing up both the database and file system of your Drupal website. Find out more about hosting your Drupal site at Rackspace.