{"title":"Synthetic data","authors":"Preeti Patel","doi":"10.1177/02663821241231101","DOIUrl":null,"url":null,"abstract":"The rise of data-driven businesses poses a number of significant challenges for contemporary organisations. These include legal and ethical considerations arising from the use of personal data, the growing challenges of information security, and the difficulty managing the volume of data generated in business transactions of different kinds. The exponential growth of data continues unabated with global data volumes reaching 181 zettabytes by 2025, and with 90% of the world’s data generated in the last two years alone. This massive growth can be mainly attributed to data gathered by Internet of Things (IoT) and related sensory devices, in addition to data generated through the human use of digital tools and applications. Given this abundance of real-world data, in what context could synthetic data be necessary? This paper highlights the growing organisational use of synthetic data and explores where and how it can be optimally used. It examines the ethical aspects of synthetic data usage, the need to garner public perception and acceptance, and the key aspects of traceability, accountability and risk mitigation.","PeriodicalId":39735,"journal":{"name":"Business Information Review","volume":"103 4","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Business Information Review","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1177/02663821241231101","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"Economics, Econometrics and Finance","Score":null,"Total":0}
引用次数: 0
Abstract
The rise of data-driven businesses poses a number of significant challenges for contemporary organisations. These include legal and ethical considerations arising from the use of personal data, the growing challenges of information security, and the difficulty managing the volume of data generated in business transactions of different kinds. The exponential growth of data continues unabated with global data volumes reaching 181 zettabytes by 2025, and with 90% of the world’s data generated in the last two years alone. This massive growth can be mainly attributed to data gathered by Internet of Things (IoT) and related sensory devices, in addition to data generated through the human use of digital tools and applications. Given this abundance of real-world data, in what context could synthetic data be necessary? This paper highlights the growing organisational use of synthetic data and explores where and how it can be optimally used. It examines the ethical aspects of synthetic data usage, the need to garner public perception and acceptance, and the key aspects of traceability, accountability and risk mitigation.
Business Information ReviewEconomics, Econometrics and Finance-Economics, Econometrics and Finance (miscellaneous)
CiteScore
2.50
自引率
0.00%
发文量
22
期刊介绍:
Business Information Review (BIR) is concerned with information and knowledge management within organisations. To be successful organisations need to gain maximum value from exploiting relevant information and knowledge. BIR deals with information strategies and operational good practice across the range of activities required to deliver this information dividend. The journal aims to highlight developments in the economic, social and technological landscapes that will impact the way organisations operate. BIR also provides insights into the factors that contribute to individual professional success.