Efficient representation should be something you build into your data model, it will save you time in the long run.
(Also if you have 100s of columns you're hopefully already benefiting from something like NumPy or Arrow or whatever, so you're already doing better than you could be... )
This is the argument I've been having my whole career with people who claim the better way is "too hard and too slow" .
I'm like "gee, funny how the thing you do the most often you're fastest at... could it be that you'd be just as fast at a better thing if you did it more than never?" .
Promotable projects at Google even have (or at least used to have) a complexity requirement. You can guess where the incentives lead.
Good thing the status quo requires no evidence, but any change we want to propose? Impossibly high standards.
The data I work with is messy, from hand written notes, multiple sources, millions of rows, etc etc. A single point that's written as "one" instead of 1 makes your whole idea fall on its face.
But, I have workarounds for these issues by loading everything into postgres under TEXT columns in a "raw" schema, then do some typecast tests in a descending list of types to get the smallest possible type to transfer to a new table in a "prod" schema. It's read-only data, so it's not a big deal to run it once, and builds out a chain of changes from csv -> sql.
Something like this could be done with pickling to avoid having to re-type every time I run the code (and I've done that for some past projects, but it's... ehhh).
"Oops, messed up my import slightly. Gotta run it again and wait ages.... again"
"Oops, loaded the dataframe twice on accident and had OOM. Gotta restart from the beginning... again"
"Oops, forgot to .head(5) my dataframe and jupyter's crashed... again..."
Doing everything in SQL solves so many problems. And OOM is practically a non-issue.
If per column then that is hopelessly slow. 500+ minutes per dataset and I may have dozens of datasets.
Store at full precision, process at fractional precision, a story as old as time.