Definitions for factor analysis
fac·tor ana·ly·sis

Princeton's WordNetRate this definition:0.0 / 0 votes

1. factor analysisnoun

   any of several methods for reducing correlational data to a smaller number of dimensions or factors; beginning with a correlation matrix a small number of components or factors are extracted that are regarded as the basic variables that account for the interrelations observed in the data

WikipediaRate this definition:0.0 / 0 votes

1. Factor analysis

   Factor analysis is a statistical method used to describe variability among observed, correlated variables in terms of a potentially lower number of unobserved variables called factors. For example, it is possible that variations in six observed variables mainly reflect the variations in two unobserved (underlying) variables. Factor analysis searches for such joint variations in response to unobserved latent variables. The observed variables are modelled as linear combinations of the potential factors plus "error" terms, hence factor analysis can be thought of as a special case of errors-in-variables models.Simply put, the factor loading of a variable quantifies the extent to which the variable is related to a given factor.A common rationale behind factor analytic methods is that the information gained about the interdependencies between observed variables can be used later to reduce the set of variables in a dataset. Factor analysis is commonly used in psychometrics, personality psychology, biology, marketing, product management, operations research, finance, and machine learning. It may help to deal with data sets where there are large numbers of observed variables that are thought to reflect a smaller number of underlying/latent variables. It is one of the most commonly used inter-dependency techniques and is used when the relevant set of variables shows a systematic inter-dependence and the objective is to find out the latent factors that create a commonality.

ChatGPTRate this definition:0.0 / 0 votes

1. factor analysis

   Factor analysis is a statistical method used to describe variability among observed, correlated variables in terms of potentially lower number of unobserved, latent variables called factors. It's often used in data reduction to identify a small number of factors that explain most of the variance observed in a much larger number of manifest variables. Factor analysis can also be used to generate hypotheses regarding causal mechanisms or to screen variables for subsequent analysis.

WikidataRate this definition:0.0 / 0 votes

1. Factor analysis

   Factor analysis is a statistical method used to describe variability among observed, correlated variables in terms of a potentially lower number of unobserved variables called factors. In other words, it is possible, for example, that variations in three or four observed variables mainly reflect the variations in fewer unobserved variables. Factor analysis searches for such joint variations in response to unobserved latent variables. The observed variables are modelled as linear combinations of the potential factors, plus "error" terms. The information gained about the interdependencies between observed variables can be used later to reduce the set of variables in a dataset. Computationally this technique is equivalent to low rank approximation of the matrix of observed variables. Factor analysis originated in psychometrics, and is used in behavioral sciences, social sciences, marketing, product management, operations research, and other applied sciences that deal with large quantities of data. Factor analysis is related to principal component analysis, but the two are not identical. Latent variable models, including factor analysis, use regression modelling techniques to test hypotheses producing error terms, while PCA is a descriptive statistical technique. There has been significant controversy in the field over the equivalence or otherwise of the two techniques.

Matched Categories

1. • Correlational Analysis
   • Statistics

How to pronounce factor analysis?

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How to say factor analysis in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of factor analysis in Chaldean Numerology is: 7

2. Pythagorean Numerology

   The numerical value of factor analysis in Pythagorean Numerology is: 1

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=factor analysis
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Factor_Analysis
3. ^ ChatGPT
   https://chat.openai.com
4. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=factor analysis