Kernelization is a general theoretical framework for preprocessing instances of NP-hard problems into (generally smaller) instances with bounded size, via the repeated application of data reduction rules. For the fundamental Max Cut problem, kernelization algorithms are theoretically highly efficient for various parameterizations. However, the efficacy of these reduction rules in practice---to aid solving highly challenging benchmark instances to optimality---remains entirely unexplored. We engineer a new suite of efficient data reduction rules that subsume most of the previously published rules, and demonstrate their significant impact on benchmark data sets, including synthetic instances, and data sets from the VLSI and image segmentation application domains. Our experiments reveal that current state-of-the-art solvers can be sped up by up to multiple orders of magnitude when combined with our data reduction rules. On social and biological networks in particular, kernelization enables us to solve four instances that were previously unsolved in a ten-hour time limit with state-of-the-art solvers; three of these instances are now solved in less than two seconds.