By Twilio Segment
Welcome to the fifth anniversary edition of the Customer Data Platform report, an in-depth look into how customer data is powering our daily lives.
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In the aftermath of the pandemic, many predicted a plateau in data volume. Yet, as we chart the course of API calls on the Twilio Segment platform, reality tells a different story — one of relentless growth and unexpected acceleration. In 2023, we topped our previous records, reaching an all-time high for API calls processed in a calendar year.
The driver behind this steep trajectory? A confluence of digital adoption, the proliferation of interconnected applications, and, more recently, the burgeoning field of AI. As artificial intelligence takes a more central role in business operations, its appetite for data is becoming insatiable.
In response, organizations are funneling more data through platforms like Twilio Segment, seeking to feed AI systems the rich, diverse datasets they require to generate insights and drive decisions.
As we mark this five-year journey, it's clear that the trajectory of API call volume on Segment is an indicator of the digital age's momentum. It's not just about the growth in numbers but about how these interactions enable businesses to harness data more effectively, turning it into a strategic asset that drives revenue and efficiency.
As we plot the trajectory of top destination categories over the past five years, one trend towers above the rest: the steady rise of the data warehouse. This graph not only illustrates a growth pattern – it narrates the evolving priorities of businesses in an increasingly data-centric world.
Data warehouses, represented by the bold red line, have undergone an extraordinary surge, particularly notable from 2020 onwards.
The expansion of data warehouse usage reflects a broader shift toward data centralization, quality, consistency, which are critical for leveraging AI and analytics effectively. Data warehouses enable a holistic view of customer interactions and behaviors, driving more informed decision-making and personalized customer engagement strategies.
We’ve also seen a consistent upward trend across all categories, from A/B Testing to Personalization, reflecting how businesses are integrating a diverse range of tools to collect, analyze, and act upon data.
In the bustling online marketplace, Twilio Segment recorded nearly 13,000 unique events, with 'order_completed,' 'page_viewed,' and 'product_viewed' leading the pack.
These events are not just metrics – they are the pulse of eCommerce, each beat revealing deeper insights into customer journeys.
'Order_completed' stands as a testament to successful conversions, while 'page_viewed' and 'product_viewed' events illuminate the paths consumers tread before reaching the checkout. These events signal the critical touchpoints where browsing transforms into buying, where interest is piqued, and decisions are made.
Our data paints a vivid picture of digital commerce, where every click and every scroll tells a story.
The nuances of how customers interact with online storefronts – from the first glance at a product to the final confirmation of purchase – are insights that can guide strategic decision-making.
The businesses leading the way in customer engagement seem to have a preternatural sense around users’ needs, preferences, and behavior. This kind of business acumen and “intuition” isn’t the product of some sixth sense. It’s a strategic combination of data, machine learning, and artificial intelligence that fuels predictive analytics.
Predictive modeling is by no means new, but it’s certainly become more advanced in recent years. From advancements in AI to the exponential rise in data being generated, businesses now have the ability to unlock incredibly nuanced customer insights in a fraction of the time it once took.
Twilio Segment’s latest feature, CustomerAI Predictions, empowers businesses to target users with an increased likelihood of performing an event. In short, it helps businesses move from a reactionary approach to a proactive customer engagement strategy.
Join the 25,000 companies on the Segment platform today.
