Understanding of a situation and of further truths without judgment; Common sense; Good judgment. Wisdom is the result of achieving a greater understanding through experience.
"The wise man changes his mind as he faces new facts, because he knows that he cannot alter the facts to please his fancy."
There is a difference between the amount of wisdom a soul can express when it incarnates into an earthly body as compared with what it possesses prior to incarnating. The amount of wisdom that can be expressed in this world is very limited because all spiritual expression is restricted by the faculties of the physical body. Before incarnation, the soul knows, in the vast majority of cases, what path it is to tread and the probable wisdom it can express.
There are a number of ways to obtain greater knowledge and wisdom. Some individuals achieve this quite well through certain forms of meditation. Wisdom reveals the inner structures of known facts and the realities associated with emerging facts.