- knowledge consist of data and/or information than have been organized and process to convey understanding, experience, accumulated learning and expertise as they apply to a current business problem
- knowledge is power: in form of accurate complete and timely information
- information =data fact + meaning
- knowledge = information + context
- wisdom = applied knowledge = knowledge + experience
- transactions processed by the information systems
- financial transactions
- nonfinancial transactions
- user decisions
- raw data from a supermarket checkout counter can be processed
and organized to produce meaningful information, sush as the total units sales of dish detergent or the total sales revenue from dish detergent for a specific store or sales territory