Synthetic data is data that is generated by an algorithm for the purpose of training a model. An example of this could be to create fake customer profile data for a bank that shares statistical similarity with their actual customer data. This way models can be built without using actual customer data. Another example might be to generate data that is either too expensive, or ethically challenging to generate from the real world, for example generating accident data or edge case data for autonomous vehicles. We are adding this category now so that we can add more vendors, products, and services to this category as the companies in this market segment mature.
