Are you acquainted with people that know a lot, but do not seem very wise? Knowledge & Wisdom are quite different. Knowledge is static. Facts are fabulous, but what are their purpose? Wisdom is knowledge with perspective and applications. There are many who know the Word of God, but they do little with that knowledge. There lives do not look as if they have put into practice the words that they have read. The Bible is meant to transform the reader. It is a love letter from God to his children. This "knowledge" is meant to lead one into a life lived for the Lord by the power of the Holy Spirit.
That being said, there are many of us who know God, don't always live like we do. We have read the Word, but fail to put it into practice. Maybe we are too busy. Maybe we aren't really paying attention. A distracted life does not display the wisdom of one who walks with God. Whatever the reason, we need to start living a life that not only knows the word...but puts it into practice.