A raw and unorganized form of facts and figures about an entity is called data. Any factual quantity or value in an unorganized/raw form (such as a series of numbers or alphabets) that represents a concept, phenomenon, object, or entity in the real world can be considered as data. There are no limits to data, and it is available everywhere.

Data can be transformed into information and can be useful for achieving the goals of its organization. There are certain properties that, when added to data, make it information. Accurate and timely data is called information if it is organized for a specific purpose and prepared and presented in a particular context. This gives a meaning and relevance to that data.

Data and information can further be transformed into knowledge by adding insights using domain experience. This knowledge requires vast experience of dealing with data related to the specific application, such as commodity price or weather forecasting.

Now, let's...