An Introduction to Factor Analysis
An Introduction to Factor Analysis Hi Guys, in this article I will be giving a theoretical overview about Factor Analysis. This article could also be considered as a continuation of my previous article on Structural Equation Modelling . Since a prior knowledge on Factor analysis is very important to have a better understanding of SEM, I would like to give separate and dedicated article related to Factor Analysis and Path Analysis. This article will cover the Factor Analysis and soon there will be a separate one for Path Analysis too. Lets get started, What exactly a Factor Analysis is? The theory behind the factor analysis is that, the information gained about the inter-dependencies between observed variables can be used later to reduce the set of variables in a dataset. In general, it can be considered as a Data reduction or Dimensionality reduction technique. It's objective is to find out the latent factors that create a commonality among the set of variables. The...