Data are characteristics or information, usually numerical, that is collected through observation. In a more technical sense, data is a collection of values of qualitative or quantitative variables about one or more people or objects, while data is a single value of a variable.
Data, in essence, is simple facts and statistics collected in the course of business activities. They can be used to measure / record a wide variety of business transactions, both internal and external. While the data itself may not be very informative, it is the basis for all reports and is therefore critical to the business.
Customer data is metrics related to customer interactions. This could be the number of jobs, the number of applications, the income received, the expenses incurred, etc. To understand our interaction with the customer, we need data.
This blog post takes a closer look at why data is important to your business.
The importance of data should not be underestimated as it provides the basis for presenting the information necessary for business operations.
