From 2022 to 2027, the size of the worldwide business intelligence market is anticipated to increase by USD 12,144.6 million. The rate of market growth will increase at a CAGR of 8.49%. The market is expanding as a result of the rising demand for BI in retail.
The retail sector produces a lot of data through inventory management, sales transactions, and consumer contacts, among other things. Retailers may improve performance, optimize strategy, and acquire operational insights with the aid of BI solutions.
They are able to spot trends, patterns, and growth prospects by analyzing sales data according to a variety of factors, including product, location, time period, consumer segment, and others. Retailers can now customize their products and raise client happiness thanks to this. Throughout the forecast period, these factors will support the market’s expansion.