thoroughly fed up with trying to register on wired to argue as the article seemed seriously wrong.
what i was intending to post there, but can't - finally somwhere to post it beyond the g/f's email!
Copied from http://www.systems-thinking.org/dikw/dikw.htm as I was looking for a reference to the information but think that this page sums it up at least as well as I could:
"The content of the human mind can be classified into five categories (Russell Ackoff):
Data: symbols
Information: data that are processed to be useful; provides answers to "who", "what", "where", and "when" questions
Knowledge: application of data and information; answers "how" questions
Understanding: appreciation of "why"
Wisdom: evaluated understanding."
The interpretation on the given url sees understanding as a process that represents the transition between each stage rather than as a stage in itself - information is the understanding of the relationships between data, knowledge is the understanding of patterns of information and wisdom is the understanding of the principles that underpin knowledge and hence make extrapolation to the future possible.
Whichever way it is looked at, the first categories relate to the past with wisdom (the ability to extrapolate) being the only one which relates to the future.
Applying to your example of J. Craig Venter, it can be seen (from my viewpoint) that his research has expanded the amount of data available to us and even possible the amount of information.
However it provides no answers, that I can see - from what is provided in your article - to the questions of "How?" or "Why?" and therefore provides no increase in knowledge, understanding or especially wisdom.
I would argue that it is the scientific method of hypothesize, model, test that provides the answers to the how and why questions and therefore increases Knowledge and Wisdom.
To me what you are arguing is not that the data deluge makes the scientific method obsolete but rather that it provides a new basis for experimentation by the analysis of statistics - it provides a new medium for testing, but provides no ability to hypothesize or test and hence does not increase knowledge, understanding or wisdom.
As such it is a very beneficial development, but the results must be treated with the same caution, indeed more, as any experimental results gained by more traditional meas. To blindy accept the findings without factoring in all the paramaters and testing against a hypothesis (indeed, unless you hypothesize how do you determine what to vary and what to test?) seems to me to be very dangerous and indeed a step backwards in thinking.