Google announced a new feature to help you restore data within Google Analytics up to 35-days after it has been deleted or removed from your account - the Google Analytics Trash Can.
Google said you can restore your view, property or account data after deleting it, up to 35 days after it has been deleted.
To use this feature, you go to the Administration tab, select an account, and click the Trash Can feature on the left-hand panel. Then check off the data you want back and click the Restore button and everything is back to normal. But again, only up to 35 days after - after that, it is gone forever.
I personally do not see this feature yet in my account, but Google says it is rolling out in the "coming weeks."
For more on how this works, see the help document.
Forum discussion at Google+.