As I recall, that program is for restoring your computer to the factory image and it is a good option to have at times. It also gives you the option to put the factory image on a bootable flash drive at which point you could get rid of the program but I'm reluctant to suggest that.
I've used Acronis in the past and it's very nice software but none of them are perfect. Once Dell local backup updates itself, it will just stay in the background using nearly no system resources.
What is Dell DataSafe Local Backup? (from Dell)
Dell DataSafe Local Backup 2.0 is a backup application installed on Dell Inspiron, Studio and XPS computers as of April 22, 2009. Unlike previous versions of Dell's system protection software, Dell DataSafe Local Backup 2.0 is able to restore a Dell computer to the original factory-installed configuration without erasing personal files and data. Dell DataSafe Local Backup 2.0 is available in Basic, Pro and RAID1 versions.
If you don't need it, then why do you keep it installed on your system ? You don't even know what it is... I use DELL so I know what it is.
From DELL webpages - there are both local and cloud versions which are not identical in what they do:
Dell DataSafe Local Backup is a safe, simple and reliable backup and recovery solution that can protect your system (OS, applications, drivers, settings) and data (music, photos, videos, documents and other important files) from data loss.