Synthetic data generation, as its name suggests, is one component of generative AI. With this technology, marketers can generate artificial data sets that share the attributes and characteristics of real customer data.
As marketers continue to expand their use of both traditional AI and GenAI, synthetic data generation reduces the challenges related to data availability, access, quality and completeness.
By using synthetic data, marketing organizations can expand customer audiences, augment data sets, and develop accurate and effective AI and machine learning models.
How can marketers benefit from using synthetic data?
Synthetic data mirrors the statistical patterns of real data without exposing private, identifiable or restricted information. It mitigates risks associated with real data and makes more data available for analytics and AI.
For AI and ML models to be run effectively by marketing organizations, the model input data must be complete and of good quality. Marketers can use synthetic data generation to fill gaps in existing data sets and improve model output scores.
These model output scores provide better insights for customer experience (CX) teams – including marketing, sales, service and support – to act on. With better model output scores infused, interactions throughout the customer journey are more targeted and deliver an elevated customer experience.
Synthetic data also allows marketers to perform look-alike modeling. By creating artificial data that mimics actual customer data in its features, structures and attributes, brands can identify potential new audiences that look like existing, successful customer segments. The result? Better testing in development environments leads to more effective targeting when customer interactions do occur.
The clear choice for synthetic data generation
SAS recently acquired the software assets of Hazy, a pioneer in synthetic data technology. This acquisition will extend SAS’ expertise in synthetic data and augment our SAS® Data Maker offering.
SAS Data Maker addresses data challenges for marketers and others by generating synthetic data that:
- Statistically represents original data sets without compromising privacy.
- Simplifies processes.
- Saves time and money.
With the acquisition of Hazy’s software assets, SAS enhances its already robust offerings for synthetic data generation and makes the choice clear for marketers looking to expand their use of AI and GenAI. With SAS, they can amplify the value of real-time customer data, hyperpersonalize experiences, build loyalty, and provide the right message at the right time, every time.
