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Synthetic Data is information that is generated artificially rather than collected from real-world events. It is typically created using algorithms and computer simulations, and can be used to train machine learning models or validate mathematical models. Synthetic data technology allows practitioners to digitally generate the data they need on demand, and synthetic datasets can be versatile and robust enough to be useful for various applications. Synthetic test data can reflect hypothetical scenarios, making it an ideal way to test a hypothesis or model multiple outcomes. Synthetic data is often used to improve AI models, protect sensitive data, and mitigate bias. Overall, synthetic data is a useful tool for data scientists and practitioners looking to expand their dataset or generate new data in a controlled setting.
