What does Exodus 3:7 mean?

God said, 'I've seen how badly my people in Egypt are suffering. I've heard them crying out because of their slave drivers. I know exactly what they're going through.' Exodus 3:7 - Modern Text Bible

(God is telling Moses that He is fully aware of the pain and oppression the Israelites are experiencing in Egypt. This is personal and compassionate awareness, not distant observation.)