#96 - Enhancing Analytical Insights Through Systems Thinking
Lisema Matsietsi CDFA, PD(SA), M.Inst.D, MCom
Professional Board Member || Author || IT Business Strategy || Founder & Managing Director: Being An Analyst || Chartered Development Finance Analyst ||
Words of Gratitude
Editor's Note by Lisema Matsietsi
In today's intricate business landscape, leveraging systems thinking is essential to steer our organisations towards strategic and informed decisions. This comprehensive approach aids in understanding the interconnectedness within systems, fostering improved decision-making and problem-solving. Embracing systems thinking bolsters our analytical abilities, resulting in more perceptive and efficacious outcomes for our clients and executives.
Overcoming entrenched mental models and environmental constraints necessitates ongoing learning, embracing diverse viewpoints, and harnessing technology. Interaction with seasoned colleagues, mentorship, and a commitment to a growth mindset can further refine our competencies. By implementing these strategies, we can conduct more thorough analyses and make superior decisions in our organisations. I'm confident you'll appreciate this newsletter. Let's reconvene this Thursday. Stay blessed.
Enhancing Analytical Insights through Systems Thinking
Our complex business environment has left us no choices as analysts. It is for this reason that we play a crucial role in guiding organisations towards informed and strategic decisions. Systems thinking is a way we understand complex systems by looking at the whole picture rather than just individual parts. This way of thinking involves recognising how different parts of a system interrelate and how changes in one part can affect the entire system. This holistic approach helps us to understand the behaviour and interactions within the system, leading to better decision-making and problem-solving.
Whether you are a novice analyst or a seasoned professional, embracing systems thinking can significantly enhance our analytical capabilities, leading to better insights and more effective decision-making by our clients or senior executives. Systems thinking is a holistic approach to understanding complex systems by examining the relationships and interactions between different parts of the system. Instead of focusing solely on individual components, systems thinking considers the entire system, recognising that changes in one part can influence the whole... Read More
In this section of our Newsletter, we aim to highlight the work that all our Being An Analyst members are doing to better the community at large. If you would like to be featured here, kindly send us an email:[email protected]
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Every business begins with an idea. By challenging the status quo, founders think, they can deliver something that no one else has. To keep succeeding, they need to keep delivering on the big ideas… Read More
Are you a Data Policy Advisor? Why Not Join Data Governance in Africa…
Are you passionate about Digital Transformation and eager to work with the African Union? Your chance is here! The GIZ South Africa, Lesotho & eSwatini project, DataCipation, is looking for a high-performing and dedicated Technical Advisor on Digital Transformation and Data Policy. In this vital role, you will be embedded within the African Union Development Agency (AUDA-NEPAD), offering technical expertise to drive the implementation of the AU Data Policy Framework. If you're ready to make a significant impact on digital policy and transformation, we want to hear from you! Duration: 01 September 2024 – 31 July 2026 (extension possible)
For more information about what this opportunity entails: Data Policy Technical Advisor - giz.de Applications are open to South African citizens and should be submitted to: [email protected]. Closing date: 02 August 2024.
Ready for CyberM8 CyberSecurity Indaba?
In recent years, South Africa has witnessed a significant rise in cyber-attacks, reflecting a global trend that poses a severe threat to national security, economic stability, and the privacy of its citizens. Notable incidents include the 2022 ransomware attack on TransUnion South Africa, where hackers claimed to have compromised the personal information of 54 million South Africans, demanding a $15 million ransom. Similarly, the state-owned entity Transnet was targeted in 2021, severely disrupting operations at major ports and railways.
These incidents are part of a broader trend. According to a report by IBM, the average cost of a data breach in South Africa reached approximately $3.21 million in 2021, an increase from the previous year. Furthermore, the World Economic Forum ranks cyber-attacks as one of the top five risks to global stability.
A Call for Sponsorship - Young Men Movement
Unlocking Opportunities: Addressing South Africa’s Youth Unemployment Crisis through Public-Private Partnerships
South Africa faces a severe youth unemployment crisis, impacting the economy now and in the long term. Addressing this issue requires large-scale public-private partnerships to create job opportunities and provide training. Harambee Youth Employment Accelerator, a social enterprise, collaborates with various sectors to unlock earning opportunities for youth and break barriers to economic inclusion. With 9 million youth neither in employment, education, nor training and many more joining the labour market yearly, the need for coordinated efforts is critical. Harambee's tech-enabled SA Youth Platform connects youth to job opportunities and addresses transport barriers, while its data-driven approach and innovative skilling programs, like DigiLink, prepare youth for the job market. By working with businesses to adopt inclusive hiring practices and focusing on sectors like the digital economy, Harambee aims to bridge the talent gap and create sustainable employment opportunities.
Gen Z needs a new approach to skills development
The solution to South Africa's youth unemployment and skills crisis lies in empowering young people with practical digital skills that meet current and future business demands. Traditional ICT certifications are insufficient; real-life skills and hands-on experience are crucial. World Youth Skills Day highlights the importance of equipping youth with employable skills, especially in AI, to foster sustainable development. Collaboration between businesses and government is essential to address the digital skills gap. Initiatives like Huawei's LEAP program and Salesforce's AI training emphasise practical experience and mentorship. Entrepreneurship education is also vital for economic growth and individual empowerment. Additionally, using low-code tools can help develop essential tech skills without extensive training.
Government promises investments in infrastructure, digital skills
President Cyril Ramaphosa has committed to significant infrastructure investments and advancing digital skills to drive South Africa's development. Speaking at the Opening of Parliament, he announced ongoing projects in transport, roads, water, energy, and housing. The government aims to simplify regulations for public-private partnerships to boost investment in social and economic infrastructure. These efforts will create jobs, especially for young people, by focusing on labour-intensive sectors and processing minerals domestically. The president also emphasised pursuing a just energy transition, leveraging South Africa's solar and wind resources to establish a green manufacturing sector, particularly in the Northern Cape. Additionally, he highlighted the importance of positioning South Africa as a key player in the digital economy through investments in digital identity, payments, broadband access, and youth digital skills training.
Are you Working From Home or Remotely?
As analysts, we can customise our work environments to fit our preferences, which fosters a sense of autonomy and independence. Additionally, the expansion of access to a global talent pool allows organisations to recruit top talent without the limitations of geography. In essence, remote and hybrid work models enable analysts to structure their workdays more effectively, mitigate burnout, and promote a healthier balance between work and life, enhancing their overall well-being and job satisfaction.
Here are some resources you could use to search for your next analyst job.
领英推荐
Junior Business Analyst
Junior Data Analyst
The Junior Data Analyst role focuses on assisting the data analytics team in gathering, analysing, and interpreting data to support organisational decision-making. It involves working with various data sources, performing basic data analysis, creating reports and dashboards, maintaining databases, and collaborating with team members.
The ideal candidate should have strong analytical skills, attention to detail, and a keen interest in leveraging data to solve problems Job Responsibilities:
Do You Know How To Stay Ahead of Disruption?
Steve Dennis , the president and founder of SageBerry Consulting, speaks on the digital transformation within the retail sector and the challenges companies face while adapting to these changes. He stresses the importance for leaders to adopt a mindset geared towards ongoing transformation and shift their thinking to foster success. Dennis also points out the significance of imagination and creativity in business, along with the necessity to move past conventional limitations and business models. He advises leaders to adopt a portfolio approach to innovation and to be open to taking calculated risks. As a strategic advisor, keynote speaker, and bestselling author, Steve Dennis concentrates on growth, innovation, and the effects of digital disruption.
His influential book, "Remarkable Retail: How to Win & Keep Customers in the Age of Disruption," is an enduring international bestseller. His insightful views on the future of shopping and consumer behaviour are frequently showcased in the media, in his Forbes senior contributor role, and on the award-winning Remarkable Retail podcast. His latest publication is "Leaders Leap: Transforming Your Company at the Speed of Disruption." With a rich and varied background as a C-suite executive at two Fortune 500 companies and, more recently, as a consultant and board member, Steve has assisted numerous brands in crafting their path to exceptional outcomes. As a renowned keynote speaker, he has given motivational speeches across six continents, offering his distinctive insights on reigniting customer growth amidst continuous change and evolving consumer preferences. Steve serves as the President of SageBerry Consulting. Before establishing SageBerry, he was the chief strategy officer at the Neiman Marcus Group, leading the company's initiatives in customer insight, loyalty, and multichannel marketing.
Will South African Interest Rates Change?
By year-end, South Africa could have its most restrictive monetary policy in 19 years, if inflation continues to fall, says Christopher Holdsworth Chief Investment Strategist for Investec Wealth & Investment. On the US front, Donald Trump is still the favourite to win the presidential election, but the odds have narrowed after Joe Biden’s withdrawal from the race.
How To Covert Insights Into Strategy Maps
This episode revisits a Strategy Skills classic where we discuss how to convert insights into Strategy Maps. It is a powerful tool to create prescriptive / forecasting models to explain and predict strategy options. This is how to move from being a consultant to thinking and presenting like a partner.
Is Africa Ready for Artificial Intelligence?
Dr. Mark Nasila has stated how artificial intelligence is transforming various global industries, from education in China to healthcare in Australia and fast food in the US. Notably, developers are leveraging AI algorithms like GPT-3 for creating content and interactive experiences. Despite its potential, AI adoption in business faces challenges due to organisational complexity, with many companies struggling to move beyond strategy to effective implementation. Successful integration requires focused planning and a clear data strategy, as exemplified by companies like Amazon. Key to this process is developing a skilled workforce and adopting a customer-centric approach to AI solutions, prioritising scalability and continuous improvement to maintain a competitive edge.
Do You Know How to Succeed In Data and Analytics? What About in GenAI Era?
Business intelligence is often perceived as retrospective rather than focusing on prescriptive or predictive analytics, or real-time analytics enabled by emerging technologies. We will likely transition to a new term. Companies at the forefront are poised to adopt these new technologies, such as GenAI and LLMs, much faster than others. Those who have neglected to invest in data governance, utilization, and literacy are disadvantaged. Conversely, companies that have proactively invested in these areas are set to make substantial progress. Success hinges on three pillars: a thorough understanding of your data from end to end, its uses, and its domain; a comprehensive grasp of the data product in all its facets; and an understanding of how data integrates with your business. Those who grasp this will most efficiently leverage technology. Consider lateral moves as well as upward ones; sometimes, moving sideways can be just as strategic.
How Can I Help Grow This Community?
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