That disk that says Applications already installed on your computer IS NOT a recovery DISK.  Its a Driver Disk.  Dell does not ship recovery media and hasn't since about 2006. I recommend getting a Good 16 GIG or Larger USB Flash drive and making a DBAR boot usb recovery flash. 
I received my new OptiPlex 9020 with Windows 7 and included with the shipment is a Windows 8.1 recovery media for windows 8.1 products. The disc says it is already installed on my computer. Where? I can't locate it and am reluctant to put this disc in without knowing what to expect. Any suggestions or thoughts?
Windows 8.1 disc included and already installed on computer