Any drawing tool that requires the paper to have "tooth" works better on cold press paper or illustration board. These mediums do better with textured paper, because they gives them something to stick to. Textured paper also enables the artist to do more shading with charcoal, pastels and crayons, as the texture gives the tool something to literally rub against. The raised fibers of cold press illustration board allow more charcoal, pastel, or crayon to transfer to the paper.
Cold press illustration board works in this same way with art materials that require a brush. The texture of the paper translates into texture with water color or acrylic paint, which can otherwise be fairly thin. The paper serves to lend a grainy aspect to any painting that might otherwise be lacking in depth. The deeper fiber of cold press board can also allow for greater depth with these art mediums by allowing deeper layers of paint and ink.
If an artist wants to scan his artwork into a digital format, he often uses cold press illustration board. If an artist makes work textured, grainy or shaded on cold press board, he can ensure that the effect scans accurately, giving the digital version of the piece and authenticity that is commonly lacking with smoother paper. A piece of art that has been scanned from cold press illustration board often looks as visually textured as the original.