Many people are confusing the use of these words: reporting, analysis, and insight. This article hopes to shed light on the three terms.
Reporting
Reporting is the first step of working with data. It is the process of organizing data into informational summaries in order to keep track or monitor if the campaign is effective.
Analysis
Analysis follows reports. In this step, we will learn and expect deeper information from reports and data. A good analysis should show the correlation, or the cause-and-effect relationships inside the data.
If there is not enough data to analyze in your existing data set, you will have to collect data from the exterior data, including social media channels or referral channels. These outside data help you see a bigger picture of its effects.
Insight
Insight is the final stage of data. Insight connects data points logically and helps people gain a deep understanding of an object.
Insight is often confused or used interchangeably with data. While data has the potential to become an insight, individual data are just numbers. Just when there is a connection of data points, associated with a specific object, an insight about that will be created.
How to turn analysis to insight?
Many organizations can do some analysis and reports, but sometimes they are lack of cross-discipline knowledge which indeed creates insight.
Understanding the need of industry, The Outbox Company (or Outbox) debuted Outbox Insight, one of the two key areas that the company focuses on after rebranding.
Outbox Insight offers one-stop insights solutions through regularly updated analysis and reports. Outbox is the pioneer in the field of data analysis and development in Vietnam.
