Synthetic data is in Gartner’s Hype Cycle for 2022, but what is it?
Unlike traditional data, which is collected from the real world, synthetic data is generated by algorithms and is designed to be representative of real-world data.
One of the key advantages of synthetic data is that it can be generated in large quantities, allowing organizations to test and train their algorithms on a much larger scale than would be possible with real-world data. This can help improve the accuracy and effectiveness of their algorithms, leading to better results and more successful outcomes.
Another advantage of synthetic data is that it can be customized to meet the specific needs of an organization. By adjusting the algorithms that generate the data, organizations can create datasets that closely match the characteristics of their own data, allowing them to test and train their algorithms in a more realistic environment.
In addition, synthetic data can help organizations protect the privacy of their customers and users. Since it is generated by algorithms rather than collected from the real world, synthetic data does not contain any personal information or sensitive data.
This makes it a safe and ethical option for organizations that need to use data for testing and training but want to avoid exposing real people’s data.
Synthetic data is a valuable tool for organizations looking to improve their data-driven decision making and protect the privacy of their customers.
Want to give it a try and see the benefits for yourself? Get in touch.
PSYBER
Email: info@psyber.nl
Phone: +31646328914
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