I have a dataset with 60 columns and 5K records. There are few columns which has outliers. I understand that there are multiple approach to handle outliers.
Actually I don't wish to drop the data as it is an outlier because am not sure whether it is really an outlier or a meaningful value (like how income could be skewed).
So what I did is just standardize the columns using
Is it okay to do this? Am assuming that by doing this standard scaling, I have retained the data as well as got rid of outliers.
Is this what standardization does? Can anyone suggest me is there anyother way to handle outliers without dropping the records?
Can you help?