This is a great post by David Weinberger on the Data-Information-Knowledge-Wisdom pyramid and why it completely misses the point about the true nature of knowledge. Towards the end, he says :
But knowledge is not a result merely of filtering or algorithms. It results from a far more complex process that is social, goal-driven, contextual, and culturally-bound. We get to knowledge — especially “actionable” knowledge — by having desires and curiosity, through plotting and play, by being wrong more often than right, by talking with others and forming social bonds, by applying methods and then backing away from them, by calculation and serendipity, by rationality and intuition, by institutional processes and social roles. Most important in this regard, where the decisions are tough and knowledge is hard to come by, knowledge is not determined by information, for it is the knowing process that first decides which information is relevant, and how it is to be used.
This is one of the best descriptions of the nature of knowledge I have come across. This dovetails well into what Ross Mayfield had to say a few years back about leaving complexity where it belongs – in social networks.