I would classify this as a matlab alternative. Plot stuff. Do Matrix calculations with direct (syntax) support in the programming language.
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Its good for legacy MATLAB projects. Use Python for new projects.
Personally, I'd rather use Python with matplotlib when I need to plot stuff, but Octave is great if you have to deal with Matlab code!
Used it for a ML MOOC a long time ago. Switched to Python/Numpy for better general programming features. Numpy has pretty good syntax for matrix computation, IMO.
Its good for legacy MATLAB projects. Use Python for new projects.