Psalms 107:43

Whoso is wise, and will observe these things, even they shall understand the lovingkindness of the LORD.

The wise are those who carefully observe these things, that is God's dealings and providential workings, and in doing so they come to understand the lovingkindness of the Lord. Wisdom lies in giving heed and taking careful note of how God acts, rather than passing His workings by unconsidered. These things to be observed include His diminishing of oppressors, His pouring of contempt upon princes, His setting of the needy on high out of affliction, and His giving of gladness to the upright.

Careful study of the history of Israel as recorded in Psalms 105 through 107 trains the mind to appreciate God's goodness, mercy, and love. That three-psalm record teaches the need to value and remember His goodness, mercy, and love instead of forgetting them. His goodness is likewise to be seen in daily circumstances and the changes taking place around us. Those whose hearts are open can discern lessons in His daily dealings and changing circumstances.