The next step beyond data and information is knowledge. Knowledge originates and is applied by knowledge workers. It includes their experience, values, insights, and contextual information and helps them evaluate and incorporate new experiences and information. People use their knowledge in making decisions. During the last several years, organizations realized they own a vast amount of knowledge and that this knowledge needs to be managed.
Gray, Paul, "Knowledge Management" (1999). AMCIS 1999 Proceedings. 292.