Just my opinion (based on many years of managing servers), but RAID, and RAID 5 in particular, is fairly useless for this purpose, for the following reasons:
User error and/or filesystem corruption are far more common causes of data loss than hardware failure. RAID does nothing to secure against such eventualities. It also doesn't secure against the possibility of the entire machine being destroyed by - for example - fire or flood.
The SMART hardware on modern hard disks is so efficient at predicting disk failure that RAID is unnecessary. SMART warnings will give you plenty of notice of when a disk needs replacing.
If you ever need to move the array to another computer there can be problems unless it uses identical hardware to the original. This, of course, doesn't occur with discrete drives.
Performance of RAID 5, in particular, on non-dedicated controllers is poor because the CPU has to perform the parity calculations. So you end up buying an extra hard disk to degrade performance and still provide no protection against the most common causes of data loss.
If your data is important, and difficult to replace, then a separate backup (in the perfect scenario, kept offsite) is essential IMO. The one situation where RAID 5 is useful is when 24x7 operation is a requirement and servers cannot be taken offline, i.e. in a commercial environment. Even in that case (even more so) a completely separate backup solution is a requirement.