Wisdom is the insight of knowledge, insight into the secrets and mysteries of life. The Bible says in Proverbs 4:7 that wisdom is the principal thing, the capital you need for whatever you want to achieve in life: “Wisdom is the principal thing; therefore get wisdom: and with all thy getting get understanding.”
Notice that it doesn’t stop at enjoining you to get wisdom; it goes further to say, “Along with wisdom, get understanding.” Spiritual understanding is just as important as wisdom in building a successful life. You may have the wisdom to start something, but you need understanding to establish it, and then knowledge of how to make consistent progress from glory to glory.
In Colossians 1:9 the Spirit, through the Apostle Paul, prayed for us to be filled with the knowledge of God’s will in all wisdom and spiritual understanding. Knowledge here is exact or full knowledge of God. Through this kind of knowledge, you make your life glorious: your life (the house) is filled with all precious and pleasant riches.
Wisdom, understanding, and knowledge go together. You need all three to be effective, and to live the extraordinary life of success, dominion, victory and excellence that God has ordained for you.