FACTOR ANALYSE Meaning and
Definition
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Factor analysis is a statistical method used to identify and describe meaningful patterns in a data set. It is primarily employed in the field of psychometrics to understand the underlying factors that contribute to observed variables. By analyzing the interrelationships between variables, factor analysis aims to reduce a large number of variables into a smaller set of factors that explain the majority of the variance in the data.
In factor analysis, the main objective is to determine which variables are grouped together based on shared information. These groups of variables are referred to as factors, and each factor represents a distinct underlying construct or latent variable. The technique provides insights into the interrelationships among variables and allows researchers to discern common underlying factors that contribute to observed patterns. These factors are often represented mathematically as unobserved variables.
Factor analysis relies on the assumption that observed variables are correlated because they share common factors. By identifying these latent factors, researchers can obtain a more concise representation of the data and understand the fundamental dimensions that contribute to the observed variables. Factors are extracted through various methods such as principal component analysis or maximum likelihood estimation.
Factor analysis has applications across various fields including psychology, social sciences, market research, and data mining. It helps researchers uncover the underlying structure of a data set, simplifies complex information, and aids in developing theories or making informed decisions.
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Etymology of FACTOR ANALYSE
The term "factor analysis" has its root in the field of statistics and psychology.
The word "factor" in "factor analysis" refers to an underlying variable or dimension that explains the correlation patterns among observed variables. Factors are believed to explain the common variance shared by observed variables, making it possible to identify the latent structure of the data.
The word "analysis" in "factor analysis" refers to the process of examining and interpreting data to identify patterns, structures, or relationships.
The term "factor analysis" was coined by the British psychologist Charles Spearman in 1904. He developed the mathematical technique of factor analysis to explore the relationships among mental abilities and intelligence. The method gained popularity within the field of psychology and has since been widely used in various disciplines, including social sciences, market research, and data analysis.
Similar spelling words for FACTOR ANALYSE
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