Data -> information => knowledge => wisdom
The DKIW model describes a fantastic insights than can be derived from data.
First, gather, chase, collect, and lake the raw data, any data.
Then, clean the data and pre-process it, at this point the information stands out, yet, a large pile of data.
Knowledge can be generated from the info pile, by slicing and dicing the data, by various parameters such as Geography, Time intervals, Product family, SKU's etc.
The reports and dashboards can show summarised data, and / or measures under threshold’s, indicating alerts or normal levels pre-defined.
Business Intelligence can support decision making, and answer business questions of any kind.
In some cases, predictive models can be applied to support future business strategies.