Formal alternative for "take on board"
Perhaps digest the information
Understand or assimilate (new information or the significance of something) by a period of reflection.
Similarly, absorb
Take in and assimilate (information, ideas, or experience): she absorbed the information in silence
And, as noted in the prior definition, assimilate
Take in (information, ideas, or culture) and understand fully: Marie tried to assimilate the week’s events
All from Oxford Dictionaries Online