Pandas is an open-source Python Library providing high-performance data manipulation and analysis tool using its powerful data structures. The name Pandas is derived from the word Panel Data – an Econometrics from Multidimensional data.
In 2008, developer Wes McKinney started developing pandas when in need of high performance, flexible tool for analysis of data.
Prior to Pandas, Python was majorly used for data munging and preparation. It had very little contribution towards data analysis. Pandas solved this problem. Using Pandas, we can accomplish five typical steps in the processing and analysis of data, regardless of the origin of data — load, prepare, manipulate, model, and analyze.
Python with Pandas is used in a wide range of fields including academic and commercial domains including finance, economics, Statistics, analytics, etc.