Tealium's fifth annual 'State of the Customer Data Platform (CDP)' report has revealed investment into real-time data accelerated over the last year, with eight in 10 of respondents stating leveraging real-time data as a critical business objective.

The fifth annual edition offers up insights into the growing importance of real-time data and CDPs in today's business landscape. It's based on a global survey of over 1,200 leaders in IT, operations, marketing, and data and analytics.

One of the areas explored in the research was AI uptake. Tealium found the majority of CDP users are already receiving value from AI, with 80% of companies with CDPs recognising business value from AI technologies versus those without (51%). About 91% also responded having a CDP in place is critical in providing the right data for AI and machine learning initiatives.

Additionally, CDPs were found to impact organisations' bottom line, with efficient data-driven initiatives leading to immense cost savings. For instance, 90% of respondents are seeing significant value from their investments in CDPs, with 89% stating satisfaction in meeting their enterprise goals over the last year.

Overall, the Tealium report found 90% of companies with CDPs are very satisfied with their investments, and 79% saw value and realised ROI within 12 months of implementation, up from 74% in 2022. The majority (84%) said CDPs allow them to take advantage of real-time data for analysis, decision making and execution, while 87% viewed CDPs as a main way to future proof their businesses.

In terms of who is in primarily responsible for CDPs, 12% said marketing was, while the majority (62%) said it IT and one in four said data and analytics teams. What's more, the report revealed IT teams are the ones utilising data from a CDP the most (67%), followed by marketing (39%), customer success/support (37%), data science (35%) and then sales (33%).

Half of organisations have more than 10 employees on their CDP team, up from 46% in the 2022 results.

"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 fueled by real-time insights become the cornerstone of lasting success."

The top use cases for CDPs in terms of value are customer retention, customer acquisition, privacy and regulatory compliance, personalisation at scale and loyalty campaigns. 66% of those who've had a CDP in place for over four years nominated 'protect customer data privacy and comply with security regulations' to be a most valued CDP capability for their organisations.

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, 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 behavior, we are better able to enhance the entire journey by offering proactive support and enhanced, personalised services. In today's ever-changing world, real-time data is a tremendous asset to remaining agile."

Notably, 66% of those who've had a CDP in place for over four years nominated 'protect customer data privacy and comply with security regulations' to be a most valued CDP capability for their organisations.

When it comes to data sources, 27% of surveyed companies leverage more than 10 data sources, increasing to 34% for the most experienced CDP users.