Real vs Synthetic Data
FEB 2024
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Real and synthetic data are both valuable in their own ways. Real data, collected from actual observations or events, provides a solid foundation for analysis. It offers a true reflection of the world, but comes with challenges such as privacy concerns and the cost and time associated with data collection.
Synthetic data, on the other hand, is artificially generated using algorithms or simulations. It's designed to mimic the complexity and characteristics of real-world data, providing a valuable alternative when real data is scarce or difficult to collect.
However, it's crucial to ensure the synthetic data accurately represents the real-world scenario you're studying.
For a detailed comparison of real and synthetic data, including how to generate it, and when to use it, read our comprehensive guide here.
Try MindPort for better insights, faster ⬇︎
MindPort empowers researchers, data teams, and agencies to effortlessly generate synthetic data with unmatched efficiency. Whether you want us to run an end-to-end research project, or just generate the data for your in-house team, we use our proprietary data-driven platform to scope, synthesise, collect, analyze and share data with your team.
Using GPT can only get you so far. Inside MindPort, our data team can organize your projects, scope your requirements, generate a synthetic sample and track individual synthetic participants. We're able to generate validated data in a fully bespoke workflow. This means your teams get the data and insights they need, in one centralized location.
Take your insights and analytics a step further with MindPort's synthetic data and insights:
Even before generating synthetic data, we can tailor over 180 unique categories of variable, totalling over 700 individual parameters per participant, based on your data requirements.
We can scale up from one to one thousand participants, enabling us to generate entirely unique three-dimensional personas that reflect the complexities, nuances, and fidelity of your real-world data.
We take this further by using 3rd party verification and our review framework to benchmark generated data against input data, carefully checking for biases, errors, and miscategorisations.
We're then able to package your synthesized data and insights within a team workspace, incorporating quotes for a visually compelling presentation.
Notably transforms your data analysis process, making synthetic data synthesis a seamless and insightful journey from start to finish.
Interested? Contact us and we'll send you a synthetic sample for free.
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