A framework for organizing user research data:
I've given 1 example per quadrant here for simplicity, but in reality you'd want to see patterns & trends across x amount of observations (what you saw & heard) for it to become an emerging insight & implication.
What's fun is to see the tension between observed and expressed needs. That's where the kernel of a good idea starts.
What users say vs. what they do are usually two different things. Combine it with how you interpret it, though and it becomes a powerful thing.