Standardization

What is Standardization why it is important ?

Suppose you have purchased a laptop at a cost of 50,000/- in India , after some time your brother brought the same product from canada at a cost of 950 canadian dollar(1C.D=50/-) for you .You want to compare both the deal for that you have to convert the laptop’s price in single currency (either in rupee or canadian dollar).Now;

price of laptop you have purchased=50,000/-

price of laptop your brother has been brought for you=50 X 950=47,500/-

Now by converting both the laptop’s price in single currency you are able to descriminate who has paid fleecing amount of money.In statistics this process is known as standardization.We need it so that we can convert the different-different units of data into single unit for obtaining inference out of it.

#standardization #machine-learning #normalization #statistics