How do you distinguish between information gathering and insight formation?

A model answer has been provided for students' reference.

It is strongly recommended that students prepare the answer on their own.

There is a mass difference between the concepts of information gathering and insight formation. Information gathering refers to collection of data and facts. It means knowledge of specific events or situations that has been gathered or received by communication. Insight formation, on the other hand, refers to the perception one has of things through his deep understanding of a subject. Insight refers to the capacity to discern the true nature of a situation. Thus, it might differ from person to person, depending on everyone's ideas and concepts.