as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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explain the concept of dimensional reduction.
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dimensional reduction is a technique used in machine learning to reduce the number of features, variables, and dimensions in a dataset. it is used to reduce the complexity of data, making it easier and faster to learn, but also to eliminate redundant features, which can reduce the variance of the model and improve accuracy. dimensional reduction can be done in various ways, such as principal component analysis, feature selection and selection of important features.
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