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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state the purpose of feature engineering.
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the purpose of feature engineering is to create new features that are useful for a machine learning model in order to better understand the underlying data. by creating relevant features, a machine learning model can be applied to the data with greater accuracy. feature engineering involves transforming existing features, extracting features from text data, or engineering features from other sources. all of these techniques are used to better represent the data and give the model more useful information.
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