Does anyone have any good tips in maximizing memory usage for this task? Especially for systems with less computing power.
Are you getting memory capacity errors or is it just very long to run?
In general, to make things more efficient, you should use low level libraries such as numpy and avoid for loops as much as possible.
For the development phase, you can work on subset of data until you have debugged your code. Then get a better computer for the real thing or just wait a bit.