Synthetic data and digital marketing?
“Synthetic data will not be a replacement for real data, but it does have some specific use cases that a digital marketer may find useful,” writes William Terdoslavich for MarTech Today.
“As a marketer, you need data to run experiments and optimize pricing. This data includes personal data as well.” he said. “Personal data cannot be stored at a certain level.” Synthetic data should bypass the privacy issue by allowing digital marketers to simulate campaigns and outcomes,” says Cem Dilmegani, founder of AIMultiple.
“Synthetic data has some limitations when it comes to the representation of real customers and their actual behaviours…Nevertheless, in situations where there are some restrictions in regular data acquisition possibilities (e.g. GDPR compliance or the limited size of datasets), synthetic data can constitute an excellent representation” says Maciej Pondel of Unity Group.