How do data and information differ?

The distinction between data and information hinges on the state and processing of the content. Data consists of raw facts and figures that, on their own, lack context and meaning. For example, numbers, dates, and strings of text when isolated do not communicate an idea or concept. In contrast, information is derived from data that has been processed, organized, or structured to provide context and relevance.

When data is analyzed and interpreted, it transforms into information that can be understood and utilized for decision-making. For example, a list of sales figures (data) becomes information when summed up and compared against previous performance to determine trends or make business decisions.

This understanding is crucial in marketing research as it facilitates the conversion of quantitative and qualitative data into actionable insights that organizations can leverage for strategic planning and positioning in the market.