In the knowledge literature there is a lot of confusion (many conflicting definitions of each of these terms) about the conditions for information to be transformed into knowledge.
There is no set rule for this. It is like stimulus leads to response or response creates stimulus. In both the ways a analogy of situation is established through a certain tested process that links info to knowledge. A reverse analogy may hold true or may not.
Thanks Himanshu for the metaphor. If you type DIKW hierarchy on Google, you may get more that 9000 entries. So many entries and so little progress for a more coherent structure!
You are right. But the point is DIKW is a set of establishment which is good enough to understand knowledge creation. Now further it is shaped up by firm's knowledge orientation.
In economics, information is knowledge. Hayek (1937, 1947) points out that information is dispersed and not useable form. This is regarded as knowledge problem in literature.
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