Normalization Vs Standardization
Normalization typically means rescales the values into a range of [0,1]. Standardization typically means rescales data to have a mean of 0 and a standard deviation of 1 (unit variance). MIN-MAX NORMALIZATION Min-max normalization is one of the most common ways to normalize data. For every feature, the minimum value of that feature gets transformed into a 0, the maximum value gets transformed into a 1, and every other value gets transformed into a decimal between 0 and 1. \frac{value - min}{max - min} Min-max normalization has one fairly significant downside: it does not handle outliers very well. Z-SCORE NORMALIZATION/STANDARDIZATION Z-score normalization is a strategy of normalizing data that avoids this outlier issue. Min-max normalization: Guarantees all features will have the exact same scale but does not handle outliers well. Z-score normalization: Handles outliers, but does not produce normalized data with the exact same scale. Normalization is good to use when you know that t...