Installing iOS updates thru iTunes

I backed up my iphone 4 thru icloud and itunes. I then attempted to install latest version of iOS thru itunes. I*'m at the end & Im being told to restore phone with latest updates & will be asked to install personal information from backups. Never have done this before & am afraid I will be losing my old info. My phone now just has a pic of the usb cord with an arrow pointing to itunes. will I be able to retrieve all my previous data with backups?