(Nowy Sacz School of Business – National-Louis University, 2014) Williams, David
A literature search indicates that Data, Information and Knowledge continue to be
placed into a hierarchical construct where it is considered that information is more
valuable than data and that information can be processed into becoming precious
knowledge. Wisdom continues to be added to the model to further confuse the
issue. This model constrains our ability to think more logically about how and why
we develop knowledge management systems to support and enhance knowledgeintensive
processes, tasks or projects. This paper seeks to summarise development of
the Data-Information-Knowledge-Wisdom hierarchy, explore the extensive criticism of
it and present a more logical (and accurate) construct for the elements of intellectual
capital when developing and managing Knowledge Management Systems.