So, what’s the difference between all of them?
It’s actually really simple. Information, knowledge and wisdom are the promoted state of data.
The illustration below summarises the promotion of data.
In summary, you collect data from all your data sources. Data exists in a raw format — binary, numbers, etc.
From the Data you have extracted, you make sense of the data and turn them into Information or Insights.
These Insights are untested and unproven and are based on Observations and calculated Analysis work. So you formulate various Hypothesis and, conduct Tests and Experiments, to validate the Insights and Analysis work that you have gathered/analysed.
If your Hypothesis is correct, that becomes a Theory. If the theory is able to withstand the test of time and various unbiased experiments conducted by others, it becomes Wisdom.
In other words, Knowledge is the highest level of Information.
With Knowledge, you can stand to gain Wisdom which would assist you in making accurate predictions.
Einstein’s theory of General Relativity and Darwin’s theory of Human Evolution are some examples of theories that are still tested and used till today to make predictions. These theories are generally accepted in Science but scientists are testing the limit of these theories.
For example, we now know that Einstein’s theory of General Relativity does not apply to the world of the small a.k.a sub-atomic particles world.