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 what is the process of standardization in a machine learning model.
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standardization is a process used in machine learning models to process and scale data before training a model. it involves rescaling data such that the mean is 0 and the standard deviation is 1. this allows the data to be put on a similar scale, which can be important when training a model with data from different sources. standardization can also be used to reduce the impact of outliers in the data.
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