ITIL has a DIKW (Data, Information, Knowledge, Wisdom) model.
I like the model with an enhancement from “The Cognitive Enterprise” by Bob Lewis and Scott Lee. I think judgment is situational but necessary. [https://www.amazon.com/Cognitive-Enteprise-Bob-Lewis-ebook/dp/B018MS4WKK]
By applying structure to collecting metrics, we gain information.
By applying analytics to the information, we gain knowledge.
By applying expertise to the knowledge with the right situational context, we get closer to sound judgment.
Many organizations mistaken metrics for analytics and for thinking metrics or analytics alone will be all they needed to reach a sound judgment in decision-making.
Metrics of analytics can certainly help, but they are only the foundational pieces of a prudent and capable decision-making process.