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This calls for proper management of information - from its collection, organization and summarization to analysis and synthesis - so that proper decision-making can take place. The position of these management steps within the continuum of data-information knowledge should also be clearly understood.
The above steps of collecting, organizing, summarizing, analyzing, synthesizing, and taking decisions, are steps in adding value to raw data, which becomes useable information, and finally knowledge at the top of the pyramid
* Source: http://home.istar.ca/~ime/knowledge.html