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In the current world, where there is an increase in competition among business organizations, such organizations must come up with new ways through which they can fully understand their markets and gain a competitive advantage in the market. Strategic market segmentation, which involves the strategic division of broad target markets into segments of consumers that share similar needs and objectives, is ascribed a central role in this endeavor.

In order to achieve this, companies are starting to make use of more complex BI platforms that provide them with greater analytical functionality and the ability to segment their customers. In this article, we will be highlighting the BI tools for market segmentation that offer businesses the opportunity to implement a strategic market segmentation approach.