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**__What is the difference between knowledge and information?__**
** Knowledge consists of facts, truths, and beliefs, perspectives and concepts, judgments and expectations, methodologies and know-how. **Knowledge is intangable. ** The **** customer representative **** (CR) possesses KNOWLEDGE on: How to operate her worksation, how to talk to customer, how to verify that caller is authorized person, how to interpret customer request, how to interpret account data, and how to explain it to customer. That knowledge may be considered "How-to" knowledge. In addition, the CR possesses (or can obtain from others or from support systems) other kinds of knowledge such as concepts about customers, customer accounts, and brokerage in general (e.g., different kinds of balances, margin status, legality of trades, etc.) **
 * Knowledge is accumulated and integrated and held over time to handle specific situations and challenges. **
 * Information consists of facts and data organized to describe a particular situation or condition. **
 * We use knowledge to determine what a specific situation means. Knowledge is applied to interpret information about the situation and to decide how to handle it." **
 * To illustrate, a customer contacts his/her broker to conduct a transaction and the distinctions between information and knowledge for this interchange are: **
 * Customer: "I have an account with you, its number is 4567. What is my balance?" **
 * -- this is INFORMATION **
 * The CR obtains from her system INFORMATION such as: Account holder's name, needed password, type of account, account restrictions, account balances. **
 * The above is a "practical delineation between information and knowledge. However, in our view, the progression from signals -> data -> information -> knowledge -> "wisdom" may be a continuum with many grey areas where it may not be clear what is information and what is knowledge. However, these grey cases typically become clearer when considering how the "information/knowledge" will be used. **