Page 301 - ITIL® Foundation 3.15

Knowledge is composed of the tacit experiences, ideas, insights, and values. Knowledge management aims to provide the right information (at the right level) to the right person at the right time to enable an informed decision.
Information may fail in helping make a decision because the context that was provided may not be understood by the decision maker, or the context may not match their own contextual understanding. By adding each interpreter’s tacit experiences, ideas, insights, and values to the information; the context becomes even better at allowing good decisions. The knowledge level adds the answer of “How” some event happened. This may include timelines, or sequencing of actions or activities. This exposure of sequencing may expose a deeper understanding of the context in which the decision must be made
Wisdom gives the ultimate discernment of the material through contextual awareness and strong common sense judgments. It is responsible for the delivery of Data, Information. and Knowledge to decision makers. The provided information must be correctly targeted at the decision to be made, the level of understanding of the audience, and presented in a way that it can be understood. IT is not responsible for delivering Wisdom...That is not possible. Wisdom must be possessed by the decision maker and they must use that wisdom in discerning the best possible use of the information to make a well-informed decision.
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