Global Business Intelligence Market Analysis 2023-2032 Business intelligence (BI) transforms raw data into applicative information for better decision-making. BI allows organizations to process, analyze, and visualize large amounts of data, allowing them to make data-driven decisions. Besides, businesses use BI to gain a competitive edge by analyzing large amounts of data to identify trends, patterns, and insights. According to Inkwood Research, the global business intelligence market is predicted to surge with a 9.68% CAGR by the end of 2032, generating a revenue of $53761.82 million during the forecast period 2023-2032.
Digital Transformation is Lucrative to Business Intelligence Digital transformation integrates digital technology into all business areas, fundamentally changing how the organization operates and delivers value to customers. It is a strategic process of leveraging digital technologies, data, and other assets to drive significant improvements in organizational performance, customer experience, and stakeholder outcomes. The rise of digital transformation has created a significant demand for BI solutions. The insights gained from business intelligence can inform and guide digital transformation initiatives, such as implementing new technologies, optimizing business processes, advancing transaction monitoring software, and developing new products & services.