Minimum and maximum value of features are used for scaling | Mean and standard deviation is used for scaling. |
It is used when features are of different scales. | It is used when we want to ensure zero mean and unit standard deviation. |
Scales values between [0, 1] or [-1, 1]. | It is not bounded to a certain range. |
It is really affected by outliers. | It is much less affected by outliers. |
Scikit-Learn provides a transformer called MinMaxScaler for Normalization. | Scikit-Learn provides a transformer called StandardScaler for standardization. |
This transformation squishes the n-dimensional data into an n-dimensional unit hypercube. | It translates the data to the mean vector of original data to the origin and squishes or expands. |