The Data-Information-Knowledge-Wisdom (DIKW) pyramids is a conceptual framework that represents the hierarchical relationships between various levels of information in the context of decision-making and knowledge management.

It outlines stages through which raw data is processed to turn into useful knowledge, and eventually, wisdom. The DIKW pyramid plays an integral role in Managed Information Systems (MIS) by guiding the transformation of data into actionable insights for efficient decision-making.

Concerning MIS, this framework guides the development and implementation of systems that transform data into valuable information, and knowledge, and ultimately, support strategic decision-making, effective resource utilization, improved planning and strategy, and deliver a competitive edge within an organization. Understanding and efficiently using each level of the DIKW pyramid is a robust and effective MIS system.

Given a view, Data is the foundational layer of the DIKW pyramid. It refers to raw, unorganized facts and figures. It lacks context and meaning on its own. Data can be structured or unstructured and might include text, numbers, images, audio, and video.

As far as data growth is taken into account, about 2.5 quintillion bytes of data are created every day globally, as per IBM.

As per Forrester, about merely 0.5% of all data is ever analyzed and used. And as fast as data security concerns are considered, About 60% of organizations have experienced a data breach in the past two years, as per Varonis.

Above the data is the layer of  Information  is derived from data through processing and analysis. It delivers context, meaning, and relevance to the raw data.

Companies that base their decisions on data-driven insights are 5% more productive and 6% more profitable than their competitors, according to Harvard Business Review.

Moving up the pyramid, we reach the level of  Knowledge  results from the interpretation and contextualization of information. It involves understanding patterns, relationships, and trends in the data.

About 67% of organizations with efficient knowledge-sharing practices are better at decision making. (Source APQC)

At the top of the pyramid is  Wisdom  involves the ability to make sound judgements and decisions based on a deep understanding of the situation, combined with experience and ethical considerations.

Companies fostering a culture of wisdom and innovation are 3 times more likely to experience above-average profitability, as per McKinsey.

The DIKW pyramid is a valuable conceptual framework in MIS, guiding the progression of from raw data to meaningful insights and facilitating informed decision-making at different organizational levels. It emphasizes the significance of not only collecting data but also transforming it into knowledge and wisdom of strategic and operational success.