Wisdom was clearly explained in the book of proverbs it is simply the application of knowledge "philosophical definition".
In the scriptures wisdom is the principal thing or it is termed as the core thing we are admonished to get wisdom and with all our getting we should also get understanding.
You may know this before but let it serve as a reminder that without knowledge I don't think there can be any wisdom.
Knowledge is the gathering of facts and information and it is just like acquiring education the application of that education in real life case scenarios is what is termed as wisdom.
Understanding is knowing how to manipulate that wisdom in any situation or any of the look of things it is important that we have understanding because it worketh patience and perseverance and the patient dog eats the fattest bone.