What term is used to describe the act of assigning meaning to information based on existing knowledge?

The term that accurately describes the act of assigning meaning to information based on existing knowledge is perception. Perception involves interpreting sensory information and integrating it with prior experiences and knowledge to create understanding. This process allows individuals to make sense of new information by relating it to what they already know, thus shaping how they view and interpret their experiences.

Encoding, for example, refers to the initial process of converting information into a format that can be stored in memory, while retrieval involves the process of accessing stored information when it is needed. Automaticity is related to the ability to perform tasks with little to no conscious effort due to practice. Each of these terms highlights different aspects of how people process information, but perception specifically focuses on the meaningful interpretation of that information based on an individual's knowledge and experiences.