Data and information
Definition
Data consists of raw, unprocessed facts and figures with no meaning on their own. Information is data that has been processed, organised or given context so that it becomes meaningful and useful.
Example
The list 72, 65, 88, 91, 54 is data — it could be anything. Told that these are test marks out of 100 for one student across five subjects, and that the class average is 70, it becomes information: the student is above average in three subjects.
Detailed Explanation
The exam distinction is that processing adds the meaning. This is also why the same data can produce different information depending on the question asked of it.