So far it became clear that 'business, product, and interaction' are our event levels in data tracking.
People always start with their business level in a very abstract and not too detailed way (however, an early startup might start with the product level first).
1) Know how a business map and tracking plan helps you to store, process, model, report, or activate your data
2) Understand that it does not make sense to track too many events but to track the right events. Always choose events that are close to your business, product, and interaction level.
3) Ensure that people work with an 'entity-activity-property model that is splitting up the entities between business, product, and interaction categories. Usually, it makes sense to start with the business level
Those are the 3 most essential things to know about data tracking.