Home » Blogs » Here is the Difference between Data Points and Data Insights.

Here is the Difference between Data Points and Data Insights.

I detail the difference between data points and data insights.

Data is a valuable asset to businesses and brands at large. It is used to inform business decisions, sculpt strategies and create valuable insights. But data on its own isn’t valuable. It’s what you do with the data itself that makes it an essential tool. Meaning data is useless without someone analyzing it and analysis is useless without data. Curating this foundation of data can tap into an endless world of possibilities for your business.

What are Data Points?

If you google the definition of data points google will tell you its “an identifiable element in a data set”. But what does that mean? It’s information from respondents. Intel from your consumers. This can include demographic information like race, age, household income, gender, education and much more. It is the collection of data at that one specific point in time. In more recent years, it has become the new normal to collect users’ data across channels like web browsers, apps, emails and social media.

To give you a real world example of data points , think of it like having your favorite book in front of you. But the book is out of order. The pages are out of sync.The chapters aren’t in numeric order. The sentences are all mixed up. That’s how data first looks. It’s a story out of order. Data points are an important first step in developing data insights and it’s more accessible than you think. You just have to take the time to analyze your data. Analytics helps us uncover what the data is actually saying to us. It showcases what the data is revealing to us. This is where data insights are made.

What are Data Insights?

Data insights are incredibly significant to a businesses’ growth, longevity and overall productivity. It can help you identify new modes of opportunities. Data insights can reveal where you have gone wrong and how to fix it. It can even help you rebrand if you have the right data. The true value of data points is the data insights that are found as a result. Organize your data. Find common trends. Then, build your insights. Form connections. You can make better choices. Sometimes, even faster choices. Identify problem areas before they get out of hand. Enhance your strengths.

Again, think of your favorite book all entangled and mismatched. Now imagine you put it back together. All the chapters in numeric order. All the pages starting from number 1 and on. The story starts at the start and ends at the end. A complete story. That’s what data insights are. It’s showing you the complete story.

Data points and data insights need each other to be valuable to businesses and brands. Data points in itself are a collection of data that is then transformed into data insights. It’s something businesses at large are investing in. There is importance to knowing the full story. So pick up the book and get to reading for yourself!

If you like this post don’t be shy, click here to read last week’s!

Leave a Reply

Your email address will not be published. Required fields are marked *