fbpx

Data Points Versus Data Insights: Which Do I Need?

If you’ve recently got data from research that you’ve done for your company, this post is for you. Whether it’s a web survey, focus group, or any other type of research study, it’s important to be able to not only understand it but make it digestible for the rest of your team. According to Microstrategy, 94% of companies believe that data and analytics are essential to growth as a business. Being able to get data from a research study is great, but isn’t very helpful if you can’t make actionable insights from the data you discover to help your company improve or use that data to make better decisions. 

What Are Data Points?
Data points are specific metrics that you’ve assessed directly from the data that you’ve compiled. You could have lots of data points from your research data, depending on the amount of information that you’ve gathered. However, just because you find out that females are two times more likely to be repeat users of your product, doesn’t tell you what to do with that information. 

What Are Data Insights? 
Data insights are the bits of information that you uncover from your research that can be inferred from your data to help create actionable items for your company. This is what your data tells you about what changes should be incorporated into your business plans moving forward, based on the data collected. Basically, this is the decision part of “data-informed decisions”. These insights will help your company make decisions and strategy adjustments based on the data you’ve compiled. 

When to Use Each 
Data points are great to compile take start making inferences when taking a look at your data as a whole. These can be used to summarize the overall data and key findings from the research study. Once you have compiled your key data points, now is the time to start making inferences on how to adjust current strategies in order to optimize your business. This is critical for taking the data and making actionable goals in order to grow as a company based on the feedback from users. Being able to translate your research into key data points and data insights can help your company start making data-informed decisions. Still don’t think that research can be useful to you? Check out my last post on why data can make a difference in your marketing career.