In Hinduism, a dot or a tilak is a way to remind us to use our head and be in control. This is practiced purely in Aagamic Hinduism and does not hold any significance in Vedic Hinduism . It signifies that the mind (in the Aagnyaa chakra) is where power and control resides and one should strive to move forward in life using the power and strength of the mind. Different colors may have some symbolic significance and the way it is worn may signify castes and sects as well.