Tealium has launched its fifth annual State of the CDP report, Unlocking the Transformative Power of AI and Real-Time Data for CX, which comprised a global survey of more than 1,200 IT, operations, marketing, and data and analytics leaders.
The report found that investment into real-time data accelerated in 2023, with 80 per cent of respondents stating that leveraging real-time data is a critical business objective.
“Real-time data is truly mission-critical for a successful business strategy,” said Heidi Bullock, CMO at Tealium. “With the use of AI accelerating, the need for enterprises to adopt real-time data practices has become more significant. Embracing these technologies not only ensures a competitive edge today, but it also positions businesses to navigate the ever-evolving landscape of tomorrow, where resilience and agility fuelled by real-time insights become the cornerstone of lasting success”.
For instance, a major retail company and Tealium customer, Bluestem Brands, is leveraging real-time data to enhance customer engagement and in-the-moment experiences.
“At Bluestem, we redefine engagement by seamlessly merging the tactile allure of print with the dynamic capabilities of digital,” said Eric Laubach, Bluestem Brands. “Imagine receiving a dynamically printed postcard showcasing the very items you left behind in your online cart—a personalized call to action that surpasses the boundaries between physical and digital channels. We don’t just retarget abandonment; we create activations and turn abandoned carts into opportunities for our customers to build, rebuild, or establish credit for a better financial life for themselves and their families.”
Additionally, wireless brand and Tealium customer TracFone Wireless, a Verizon company, is building real-time data pipelines to accelerate media efficiency and customer experiences. “Access to the right data, in real-time, is critical to the success of building a true 360-view of our customers,” said Burak Ozan, Verizon Value Organization. “Through real-time visibility into customer behaviour, we are better able to enhance the entire journey by offering proactive support and enhanced, personalized services. In today’s ever-changing world, real-time data is a tremendous asset to remaining agile.”
As 2023 reigns as the year of AI, a majority of CDP users are already receiving value from AI, with 80 per cent of companies with CDPs recognizing business value from AI technologies vs. those without (51 per cent). About 91 per cent also responded that having a CDP in place is critical in providing the right data for AI and machine learning initiatives.
Additionally, CDPs were found to impact organizations’ bottom line, with efficient data-driven initiatives leading to immense cost savings. For instance, 90 per cent of respondents are seeing significant value from their investments in CDPs, with 89 per cent stating satisfaction in meeting their enterprise goals over the last year.
