Knowledge is also defined using taxonomy, with levels describing data, information, knowledge and wisdom. Briefly, data is defined as a fact. Information is a fact with some context. Knowledge is an understanding gained from a pattern that exists with related information. Wisdom combines an understanding of all of the above with some additional exploration to derive a cause and effect relationship.
A fact, such as the number 100, is data. We can intuitively discern that another fact such as 101 may be greater in value but without some further context we cannot be sure what the data represents. Stating that the number 100 is a dollar value adds some additional meaning, and adding that the dollar value is an account balance further extends the perspective of 100. The amount of background needed to transform data into information is subjective.