Obviously data are related to information and information is related to knowledge and knowledge is related to innovation and innovation is related to wisdom (whew!). But how are they related? What few people realize is that if you take out any of these components, the whole relationship falls apart.
data > information > knowledge > [...]
Now, all of a sudden, a new idea is emerging…it’s barely an audible chirp, but it will become a tectonic rumble before long: Social Media is beginning to take on the characteristics of Financial Instruments.
Problems are often so complex and so integrated across the globe that no single person can accumulate in a lifetime the experience needed to manage effectively. Actions without wisdom have unintended consequences for yet unknown victims.
Social media allows us to express the dynamics of our world in real time and at great speed. Feedback loops are shorter and cause and effect can be more easily differentiated.