The article discusses Fairgen, an Israeli startup that offers a software-as-a-service (SaaS) platform to generate synthetic data for market research. The platform uses statistical models and tabular data to extrapolate new respondents from existing survey data, without using large language models (LLMs). This approach ensures the reliability of the generated data, as it is not contaminated with learnings from other external sources.
Key points:
- Synthetic data generation: Fairgen’s platform generates synthetic respondents by extrapolating from adjacent segments in the survey.
- No LLMs used: The platform does not use large language models (LLMs) to generate responses, as this could introduce bias and incompatibility with quantitative research.
- Reliability ensured: Fairgen’s approach ensures that the generated data is reliable and trustworthy, as it relies solely on the data contained within the uploaded dataset.
- Business model: Fairgen offers its platform as a SaaS, with companies uploading their surveys in structured formats (e.g., CSV or SAV) to the cloud-based platform.
- Training time: The user selects a segment of respondents and then Fairgen delivers a new file with new rows, taking up to 20 minutes to train the model on the survey data it’s given.
- Integration with market research companies: Fairgen is being used by BVA and IFOP, French polling and market research firms, which have integrated the startup’s tech into their services.
Implications:
- Market research efficiency: Fairgen’s platform can help market researchers generate high-quality data more efficiently, reducing the need for costly and time-consuming surveys.
- Data reliability: The platform ensures that generated data is reliable and trustworthy, making it an attractive solution for companies seeking to validate their research findings.
- Industry adoption: Fairgen’s integration with major market research firms like BVA and IFOP suggests a growing interest in synthetic data generation tools among industry professionals.
Overall, the article highlights Fairgen as a promising startup that is addressing the challenges of market research by providing a reliable and efficient solution for generating high-quality data.
