Synthetic data use case: overcome legal retention periods
Overcome legal retention periods and preserve data to spot valuable patterns, trends and relationship over time with synthetic data.
The old situation
Destroy personal data when the legal retention period expires
“Data is the new oil of the digital economy”. Yes, this is definitely an overhyped statement, but most will agree that data is valuable and is essential for organizations to realize innovation. it allows organizations to spot valuable patterns, trends and relationship over time to support the organization with actionable insights.
However, the data minimization principle and (specific) legal data retention periods require organizations to destroy data after a certain time period. Consequently, those organizations have to destroy their foundation for the realization of data-driven innovation: data. Without data and a rich database of historical data, the realization of data-driven innovation will become challenging. Hence, this introduces a situation where organizations cannot spot valuable patterns, trends and relationship over time to support the organization with actionable insights.
Overcome legal retention periods with synthetic data
Our solution: work with synthetic data as alternative to using original data. Here, our clients generate a synthetic version of the original dataset. Thereafter, they destroy the original dataset as they are used to do, but preserve the generated synthetic data. Consequently, those organizations are now able to preserve data over time in synthetic form. Where they originally where limited in the realization of data-driven innovation, they will now have a strong foundation to realize data driven innovation (over time). This allows those organizations to spot valuable patterns, trends and relationship over time based on (partly) synthetic data, so that they can support the organization with actionable insights.
We are experts in synthetic data. But, don’t worry, our team is real!
Contact Syntho and one of our experts will get in touch with you at the speed of light to explore the value of synthetic data!