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Document Digitization: Turning Data Into Knowledge

Document Digitization: Turning Data Into Knowledge

By KnowledgeLake on August 8, 2019

Differentiating Between Data, Information, and Knowledge

We often hear that organizations are drowning in data but aren't quite sure what to do about it. The first step to solving your problem is not only understanding the difference between "data," "information," and "knowledge" but also learning how intelligent content automation can help you.

Since we often hear the terms “data,” “information,” and “knowledge” used interchangeably, most people assume all three mean the same thing. But there’s a difference.

Data is unprocessed facts and figures. Data itself doesn’t have a positive or negative meaning. This is because there’s no interpretation or analysis yet attached to it. Data is transformed into information when it’s been processed and given context around it.

It’s only then that data can begin providing useful answers. Information—not data—is what provides organizations with insight into their processes. This information then allows organizations to build knowledge with it.

Knowledge is the general application of collective data and information. Knowledge provides answers and can be used to benefit an organization.

How Does Knowing the Difference Between Data, Information, and Knowledge Benefit My Organization?

When content—i.e. data—comes into your organization from many different places and in a variety of formats, it can create what we call “content chaos.” There’s a lot of potential information waiting to be understood. And it grows each day. But this content can’t truly be turned into information and knowledge until it’s been processed efficiently.

Intelligent content automation can help your organization calm your content chaos. Once you’ve gotten your content chaos under control, you can focus on turning your efficiently processed documents into knowledge that fuels business decisions.

About KnowledgeLake:

KnowledgeLake provides content management solutions that help busy organizations intelligently automate their most important document processes. Since 1999, we've created award-winning, Microsoft-centric solutions that have helped thousands of companies around the world focus on their mission rather than their mission-critical documents.

 

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