A more precise definition might be that knowledge is true justified belief that was acquired by a method that was, in the context, reliable. A subject's belief counts as knowledge when he has good reason to have that belief, the belief is true, and it was acquired by a method that was, in the context, reliable. Knowledge Management is a recent area of interest for me. An area that got my attention because of some connections made during my continuing study of systems. I have pondered the relationship between data, information, knowledge, and wisdom for some time and from a systems perspective made the following connection.
Information is represented by relationships between data, and possibly other information.
The relationships may represent information, yet the relationships do not actually constitute information until they are understood. Also, the relationships which represent data have a tendency to be limited in context, mostly about the past or present, with little if any implication for the future. Knowledge is represented by patterns between data, information, and possible other knowledge. These patterns may represent knowledge, yet the patterns do not actually constitute knowledge until they are understood. Also, the patterns which represent knowledge have a high level of predictability associated with them such that the pattern suggests its past, its present, and its future.