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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given any type of data, explain the concept of normalization.
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normalization is the process of scaling and shifting data so that it has a consistent form and can be compared and evaluated more easily. normalization usually involves changing the data range so that it has a mean of zero and a standard deviation of one. it is a necessary step in many types of data pre-processing, such as for machine learning models or data visualization.
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