A raid 5 array distributes the data across the total amount of disks, increasing performance and at the same time providing redundancy. Using our six 1TB drives in raid 5 configuration, we would end up with a 5TB raid array. If any of the six disks go down, the array continues to operate, as it automatically uses data from the remaining five to reconstruct the data from the sixth. The array will have a reduced performance until the broken drive is replaced, but all data will be intact. The only way you can lose data with a raid 5 drive is if two drives fail at the same time, which is highly unlikely. You can even configure a hot spare drive, that isn’t used in the raid array for any purpose except to be added should one of the main drives goes down. The hot spare can then be converted to an array drive and you continue until you install a replacement.
So to summarize, raid 5 allows you to store data with increased disk performance, and also allows you to lose one drive to failure without affecting your data.