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WHITE PAPER August 1, 2024

A Guide to Synthetic Data Generation for Tabular Data

Why is Synthetic data the future of AI?

Synthetic data is essential for organizations aiming to leverage high-quality, real-world data while addressing concerns like privacy issues, limited availability, and high acquisition costs.

But what is synthetic data?

Synthetic data is artificially generated to mimic the characteristics and statistical properties of real-world datasets. It is created using generative models, simulations, and algorithms, replicating the patterns, distributions, and correlations found in actual data.

In fields such as healthcare, life sciences, and financial services, synthetic data enables organizations to develop artificial datasets that accurately reflect the features of real data while protecting sensitive information.

Key Takeaways

This white paper explores how tabular synthetic data generation can address data scarcity and what organizations should consider when selecting vendor partners. It includes:

  • An in-depth understanding of the tabular synthetic data landscape, complete with use cases and capability evaluations.
  • Strategic advantages and practical applications of tabular synthetic data generation.
  • Insights into how tabular synthetic data solves practical problems and its potential applications.
  • A framework for evaluating vendors and solutions based on unique organizational needs.

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