Subscribe
About

SAS acquires synthetic data IP from Hazy

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 14 Nov 2024
Jim Goodnight, CEO of SAS.
Jim Goodnight, CEO of SAS.

Enterprise data and analytics specialist SAS has acquired core software assets from Hazy, a UK-based synthetic data startup.

SAS says it is buying Hazy’s “principal software assets” and not the entire company. The acquisition will boost synthetic data generation capabilities of SAS Data Maker, an enterprise platform the company introduced earlier this year.

According to SAS, organisations use AI-generated synthetic data when real data is unavailable, inadequate, or too sensitive, costly, or biased. Synthetic data mirrors real data’s statistical patterns without exposing private information, reducing risks and expanding the data available for analytics and AI. This enables data scientists to create more balanced, reliable data sets for innovative solutions.

SAS cites Gartner statistics which claim that by 2026, 75% of businesses will use GenAI to create synthetic customer data, up from less than 5% in 2023. According to the 2023 Gartner Peer Community, Generative AI for Synthetic Data report, benefits of synthetic data for organisations include 60% improvement in model accuracy, 56% improvement in model efficiency, 45% reduction in data privacy concerns, 31% improvement in AI explainability, as well as 30% reduction in the impact of biases.

Jim Goodnight, CEO of SAS, said, “Our acquisition of Hazy’s IP represents a pivotal step in our commitment to innovation in the next generation of data management and AI. Hazy is a pioneer in bringing synthetic data to market as a viable enterprise product, and analysts rank it among the top software providers in its category. By integrating their technology, we can offer our customers unparalleled opportunities to harness data safely and effectively, enabling them to experiment and model scenarios that were previously out of reach and gain a competitive advantage.”

SAS says there are also future integration opportunities with SAS Viya, the company’s cloud-based software suite that supports the entire analytics life cycle. It is used to transform raw data into operational insights that support every kind of decision an organisation makes.

Kathy Lange, research director, AI Software at IDC, says “Synthetic data is a game-changer for companies implementing AI solutions, especially in sectors with strict privacy regulations like healthcare and finance. SAS’ acquisition highlights the growing requirement for synthetic data as an integral component of a modern AI toolkit, addressing data scarcity and privacy issues, and improving model accuracy while reducing biases.”

SAS Data Maker announcement

Integrating Hazy’s technology expands upon SAS’ announcement of Data Maker in April. The platform has been available in private privew. 

SAS Data Maker addresses data challenges by generating synthetic data that statistically represents original data sets without compromising privacy, while simplifying processes and saving resources.

With the integration of Hazy technology into Data Maker, SAS says its customers will be able to simulate future scenarios and speed up AI project development with faster, high-quality data generation.

Share