Here's a breakdown of each level:
* Data: Raw, unprocessed facts and figures. Example: a list of sales figures.
* Information: Data that has been organized and processed, giving it context and meaning. Example: a graph showing the trend of sales over time.
* Knowledge: Understanding and insights gained from information, allowing for predictions and explanations. Example: understanding why sales are increasing or decreasing based on market trends and competitor activity.
* Wisdom: The ability to apply knowledge to make informed decisions and solve problems. Example: using the knowledge about sales trends to create strategies for increasing revenue.
* Action: Implementing the decisions based on wisdom. Example: launching a new marketing campaign based on the insights gained from sales data analysis.
* Decisions: The choices made based on wisdom and knowledge. Example: deciding to invest in a new product line based on market research and sales projections.
The DIKWAD model highlights the importance of progressing through these levels to gain a deeper understanding and make effective decisions. It emphasizes that simply having data is not enough; it needs to be transformed into information, knowledge, and ultimately wisdom to be useful.