Knowledge can be defined in two major ways; first, as an acquaintance with the body of truths, facts or principles accumulated in the course of time from study or investigation. On the other hand, knowledge can also be defined as the illumination of the mind by the Word of God. Biblical knowledge is a combination of scientific, philosophical, psychological, and spiritual knowledge; and this kind of knowledge is superior to any other. In reference to the knowledge of the Word of God, Hosea 4:6 says:
“My people are destroyed for lack of knowledge: because thou hast rejected knowledge, I will also reject thee, that thou shalt be no priest to me: seeing thou hast forgotten the law of thy God, I will also forget thy children.”
As I have always said, knowledge is power because it is a major factor that controls the process of decision making and therefore ultimately determines the course of life. It is the level of your knowledge about any particular subject that determines your ability to make the right decisions about that subject. It is in this light that Proverbs 1:29 says those who despise or detest knowledge do so at their risk. Every Christian needs to know that dependence on worldly knowledge may lead to failure, but godly knowledge guarantees success.
Do you know that if you know more about God and His Word, it will affect you in making error-proof choices and decisions? That is why Proverbs 1:23 says,
“Turn you at my reproof: behold, I will pour out my spirit unto you, I will make known my words unto you.”
The elements you need in taking those crucial decisions are contained in the Bible, prophetic utterances of genuine men of God and what He would like to say directly to you. How much time have you given to studying at His feet? Some think it is a waste of time to undertake personal Bible study while others are sleeping at midnight. No. You are gaining time. At the end, you will realise you spent far less time and effort in reaching your goal than the one who never cared to give priority to God’s Word.

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Source for Full Version: http://www.dailydevotionalsonline.com/devdetails.php?devotional=openheavens&&id=2134