Video Transcript: What is the difference between data, information and knowledge?

This is an important part. You're going to see models out there, if you do any  type of search on the internet, that suggest that there's a flow that goes data,  information, knowledge, and sometimes they'll talk about wisdom. The problem  is that a lot of IT companies will use that flow to suggest that actually IT serves  as a knowledge management solution. The question is, does it? First thing  we've got to do is break down what we're talking about when we're talking about data, information and knowledge, and that's going to be our starting point at the  moment, you're going to see that going to see that in this diagram, data is raw or organized numbers or words. When we're talking about organized we're talking  about text, pictures, graphs, etc. Information is that raw or organized numbers or words, interpreted, communicated, given some context or meaning. Well, if  we're going to be talking about context or meaning, then doesn't that involve  people? Don't we bring that context or meaning? So Haven't we come into the  process? And does that mean that it's no longer just about information  technology. Now we've got to talk about knowledge. We take that information  and we draw inferences, we develop insight. It's based on our experiences. So  therefore we've now got people in the process twice. We bring the meaning to  that raw data or organized data. We then take the information and we add to it  our experiences, we draw inferences, we gain insight, and we then start to make decisions. So if that's what it's about, and if you can agree with me on this, then  how does information technology provide the solution for knowledge  management? And that's the problem.