Synthetic data vs real data: benefits and challenges
FEB 2024
FEB 2024
Synthetic data and real data both play crucial roles in the world of data analysis and research.
Synthetic data, generated by algorithms, can fill gaps where real data might be lacking, while real data provides a solid foundation for analysis.
However, both come with their own set of challenges. Synthetic data, for instance, might not perfectly replicate the complexities of real-world scenarios, while real data comes with privacy concerns.
To learn more about the benefits and challenges of synthetic and real data, check out our comprehensive guide here.
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.