This is a problem of oscillation at the edges of an interval/size class and can produce error fits that can get larger, not smaller, with increasing number of terms.
Runge's phenomenon is generated by using the same high-degree polynomial over the whole interval. Any local, piecewise polynomial (finite-element-like) approximation will do a much better job in nonsmooth cases. In fact, splines are defined in a somewhat global form, and might not even be the best choice in this respect.
To avoid Runge's phenomena (i.e., oscillations) that occur when interpolating with polynomials of higher degrees, it is recommended to use lower degree polynomials, especially cubic splines).
One may read the file I attached (last week). It contains different interpolation methods.
The choice of an interpolation model most generally depends on the nature of the data to be modeled. We have to try different interpolations for our data and compare their accuracy. Theorems on convergence & error analysis on each model type has to be studied, where needed.