target audience: TECH BUYER Publication date: Nov 2023 - Document type: IDC TechScape - Doc Document number: # US50104123
IDC TechScape: Worldwide Retail Analytics and AI Applications, 2023
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Abstract
This IDC study provides an assessment of the technologies in terms of their current evolution and technology tracks that are used to establish, understand, and engage with retail data, metrics, and analytics. This includes an overview of computational technologies that are included in retail applications as well as standalone technologies used to track analytics. Also included in this study are key artificial intelligence (AI) and intelligent tracking capabilities currently being invested in across retailers worldwide. The diversity of retail vendors applying analytics and AI are not trivial, nor is application of analytic technologies in complex scenarios. This study provides a comprehensive view of the many technologies used in retail analytics and AI and where they are in terms of maturity, adoption, and growth in the retail market.
"Analytics and AI has become synonymous with retail and retail data. This is not coincidental, but an active realization by retailers that today's computing power, customer focus, and analytic impact on business outcomes are critical to business growth, where analytic tools will offer a competitive advantage." — Ananda Chakravarty, research vice president, IDC Retail Insights