What is Synthetic data?
Synthetic data is artificially generated data that mimics the patterns and statistical properties of real data without containing actual records about real people or transactions. It is used to train and test models, cover rare scenarios and share realistic datasets without exposing sensitive information.
Why it matters for your business
Synthetic data lets teams build and test AI and software when real data is scarce, private or regulated, which lowers privacy risk and speeds up development.
A lender generates synthetic loan applications that mirror its real customer mix, so developers can test a new scoring model without touching personal financial records.