Python `ordereddict.OrderedDict` is a subclass of `dict` class and it maintains the order of inserted elements. Unlike regular dictionaries, `OrderedDict` remembers the order in which items are added. This means that when iterating over its keys, values or items, the elements will be returned in the same order as they were initially inserted. `OrderedDict` provides a useful tool when the order of elements is important, especially in cases where the order needs to be preserved for further operations or analysis.
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