Book Image

Synthetic Data for Machine Learning

By : Abdulrahman Kerim
Book Image

Synthetic Data for Machine Learning

By: Abdulrahman Kerim

Overview of this book

The machine learning (ML) revolution has made our world unimaginable without its products and services. However, training ML models requires vast datasets, which entails a process plagued by high costs, errors, and privacy concerns associated with collecting and annotating real data. Synthetic data emerges as a promising solution to all these challenges. This book is designed to bridge theory and practice of using synthetic data, offering invaluable support for your ML journey. Synthetic Data for Machine Learning empowers you to tackle real data issues, enhance your ML models' performance, and gain a deep understanding of synthetic data generation. You’ll explore the strengths and weaknesses of various approaches, gaining practical knowledge with hands-on examples of modern methods, including Generative Adversarial Networks (GANs) and diffusion models. Additionally, you’ll uncover the secrets and best practices to harness the full potential of synthetic data. By the end of this book, you’ll have mastered synthetic data and positioned yourself as a market leader, ready for more advanced, cost-effective, and higher-quality data sources, setting you ahead of your peers in the next generation of ML.
Table of Contents (25 chapters)
1
Part 1:Real Data Issues, Limitations, and Challenges
5
Part 2:An Overview of Synthetic Data for Machine Learning
8
Part 3:Synthetic Data Generation Approaches
13
Part 4:Case Studies and Best Practices
18
Part 5:Current Challenges and Future Perspectives

Case studies of utilizing synthetic data for predictive analytics

In this section, you will explore the huge opportunities brought by synthetic data to the field of predictive analytics. You will delve into three interesting case studies:

  • Provinzial and synthetic data
  • Healthcare benefits from synthetic data in predictive analytics
  • Amazon fraud transaction prediction using synthetic data

Provinzial and synthetic data

Provinzial, one of the top insurance companies in Germany, always had many issues with the usability of real insurance data because of the many regulations that limit the usability of sensitive data for predictive analytics in a rapidly changing market, such as the insurance market. At the same time, they wanted to improve their services and the offers they make to their customers. To address these issues, they investigated using synthetic data and, indeed, trained their ML models using the generated synthetic data. The predictive analytics synthetic...