What is the difference between Data, Information and Insights?

Image by Gerd Altmann from Pixabay

In a lot of presentations, meetings or even conferences we get the terms data, information and insights used interchangeably by the business. In this blog I just thought to shed the light on each of those terms:

  • Data: This is the raw data that the business captures or maybe third party data sources used by the company. It can be numbers, words, images, audio or even video.
    • Examples: audio recording for customer service calls.
  • Information: Information result from having the data processed, organised and shared in forms of tables, visualisations or reports. It is normally in a more business-friendly format.
    • Example: Performance tables that has information about customers, their orders as well as their profitability.
  • Insight: Insights are gained by analysing the information processed in order to gain a better understanding of a situation and help the business draw conclusions and take actions.
    • Example: Visualisations that show the most profitable customers by software for an IT business, this can help the team understand more about the products those customers order and evaluate if there is an opportunity to add more services to their portfolio.

Those are my thoughts on data, information and insights, what do you think? Looking forward to hearing your thoughts!

Have a great bank holiday!

#analyticsdrivenstrategy #dataanalytics #visualisation #data #information #insights #strategy

Follow Blog via Email

Enter your email address to follow this blog and receive notifications of new posts by email.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s