How to efficiently loop through Pandas DataFrame

If working with data is part of your daily job, you will likely run into situations where you realize you have to loop through a Pandas Dataframe and process each row. I recently find myself in this situation where I need to loop through each row of a large DataFrame, do some complex computation to each row, and recreate a new DataFrame base on the computation results. Savvy data scientists know immediately that this is one of the bad situations to be in, as looping through pandas DataFrame can be cumbersome and time consuming.