Hazy provides financial institutions and other enterprises with ‘synthetic’ data that allows them to generate business-critical insights without compromising customers’ privacy.
1. What does Hazy do?
Hazy enables businesses to use data without restriction.
Its enterprise software enables firms to create synthetic data - data artificially generated using machine learning techniques - that retains the statistical properties of real data and can be safely used for analytics and innovation without compromising customers' privacy. Hazy clients are able to innovate and test quickly and accurately, unlock insight, and create new revenue streams.
2. What problem is Hazy solving?
Huge value is trapped in inaccessible data. Enterprises struggle to leverage their own data assets because they are wrapped in privacy and security controls that are designed to limit access to them. Hazy’s advanced generative models understand and extract the ‘signal’ in client data; these models are then moved securely across company, legal and compliance boundaries before being condensed to generate statistically representative synthetic data. This data is immediately actionable, and designed to integrate with existing analytics code and workflows.
3. How did Hazy come up with the idea?
The Hazy team saw how difficult it was for organisations to share and extract value from data whilst respecting the privacy of the individuals and regulatory constraints. Treating data responsibly is a primary concern for businesses and with the introduction of GDPR, data security and privacy is increasingly a priority for businesses globally. Hazy began as an anonymisation product but the team pivoted to synthetic data on realising the greater power and potential of using completely new data sets.