Insights give you the story behind your analytics. Arc looks through your analytics and tells you how you're performing or shows you metrics that are important to your site right now. Insights can save you time and money while giving you information to help make better decisions.
Interactive reports deliver a quick, scannable snapshot of your metrics which can easily expand when you click on them. The expanded view gives you a graph with a clear sentence that describes and visualizes how your website is performing.
Raw data doesn't have any analysis. Arc makes sure the data from Google Analytics is easy to read. No fancy description of your performance, just the metrics you need to do your own analysis.