Russell L. Ackoff Quote
Knowledge is the appropriate collection of information, such that it's intent is to be useful. Knowledge is a deterministic process. When someone "memorizes" information (as less-aspiring test-bound students often do), then they have amassed knowledge. This knowledge has useful meaning to them, but it does not provide for, in and of itself, an integration such as would infer further knowledge.
As cited in: Jeff A. Riley and Kemal A. Delic (2010) "Enterprise Knowledge Clouds". In: Handbook of Cloud Computing. Borko Furht, Armando Escalante ed. Springer 2010. - Towards a Systems Theory of Organization, 1985 - From Data to Wisdom, 1989