We have a "short term" memory and a "long term" memory. When the information is stored in the long term memory ; it becomes knowledge. Because of that; teachers should focus on "intrinsic" motivation for the storage of the information in long term memory. The extrinsic motivation stores the information in the short term memory and the information is usually lost after exams or rewards.
Knowledge is an accumulative process. Information& data are tools of getting the accumulative knowledge indeed! In order to get knowledge, you have to employ your tools (data) and interpret them all together. Also, a lot of testing is needed until a fact is proved. Getting knowledge is just like mixing water, salt, flour and yeast and baking all these to get bread!
Knowledge is built from various categories of information in a long-term process of science development and a developed economy. The information is what I have now written, but it is not knowledge due to the limited scope of content. On the other hand, in order for a new category of information to be created, the knowledge that has been built up over the years has usually already existed. The information may contain a small range of content and may function in a short period of time. On the other hand, knowledge is made up of many related categories of information and the period of knowledge is usually much longer than information.
on the subject acquired from education or experience of a person. Information is nothing but the refined form of data, which is helpful to understand the meaning. On the other hand, knowledge is the relevant and objective information that helps in drawing conclusions.