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2024 State of the CDP : Unlocking the transformative power od AI and real time data for CX

As we move into 2024, organizations still face a number of challenges and market forces impacting their businesses, including data fragmentation and privacy concerns, the imperative of delivering personalized customer experiences, driving efficiency in their business models, and the rise of AI and the opportunities it presents. In an era where data has become the lifeblood of decision-making, businesses grapple with the complexity of managing disparate data sources, striving to create a unified view of their customers

The overall findings indicate that CDP users are very satisfied with their adoption of Customer Data Platforms (CDPs). Moreover, they are experiencing a high level of ROI in the first 12 months:

  • Several teams and departments within an organization benefit from using data from a CDP. Collaboration between these teams is essential to maximize the value derived from CDP data. The platform serves as a central hub for customer information, fostering cross-functional cooperation and helping organizations deliver more personalized and effective customer experiences.
  • Companies are realizing the CDP’s ability to deliver on key objectives across the board, with over 80% of this year’s respondents being satisfied across all 13 objectives (as seen in the next chart). In addition, there is increased satisfaction across all objectives compared to last year.
  • CDP Adopters are Leveraging More Data and Increasing Investments
  • . Companies with a CDP were more satisfied with their ability to “create relevant customer experiences through customer data” (91%, up from 86% in 2022) than those without a CDP (64%)
  • 80% of companies with CDPs are already recognizing business value from AI technologies vs those without a CDP (51%).

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