Synthetic data is transforming market research by enabling privacy-compliant, cost-effective insights without relying on real-world data. Using techniques like GANs, VAEs, and statistical models, companies can simulate consumer behavior, forecast demand, and accelerate A/B testing. Case studies from Amazon and Nationwide show how synthetic data powers language expansion and GDPR-safe innovation. The paper stresses maintaining realism, avoiding bias, and combining synthetic with real data to ensure quality. While challenges remain, synthetic data offers faster development, better forecasting, and strategic flexibility.

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