Factor Analysis
Our Factor Analysis solutions act as an excellent data reduction technique, exceedingly beneficial for coalescing extremely interconnected variables into a small number of themes. By way of reducing the big data, many profound solutions can be found with utmost precision and capacity.
This is a statistical technique applied to study the dimensionality of a set of variables. Here, dormant variables represent undetected paradigms and are denoted as factors or dimensions. The technique is basically used to ascertain the dimensionality of a measurement instrument by discovering the lowest amount of interpretable factors required to explicate the correlations amongst a set of variables.
The studies that are conducted via market research quite often gauge fulfillment intensities on a huge quantity of service facets, with the aim to reach to the right conclusions to the particular industry problems. Due to the inclusion of a wide quantity of items, the expediency of other techniques gets narrowed. This is where Factor Analysis plays a huge role by reducing the number of items into a much reduced group of elements, each clarifying a distinctive expanse of service.
This method is employed in a variety of scenarios, such as:
- In the field of Psychology to assess behavioral disposition and reasoning
- Child Behavior Checklist (CBCL)
- Assess attitudes in sociology, political science, etc.
- Evaluate the diagnostic criteria in mental health
We use a number of diverse techniques to conduct factor analysis for our clients. These can be any of these or a combination of them:
- Principal Axis Factor
- Maximum Likelihood
- Generalized Least Squares
- Unweighted Least Squares
Once the factors are extracted, many different types of rotations can be performed thereafter. We deploy:
- orthogonal rotations, such as varimax and equimax, which inflict the constraint that the factors cannot be correlated, and
- oblique rotations such as promax, which let the factors to be correlated with each other
Our exceptional tactics like factor analysis help us to deliver our clients the right results that they want. In a nutshell, these solutions act as a basic code which states two, or more than two, variables with a single factor.
At Research2Systems, factor analysis as an impeccable approach allows us to perform better & enhanced market research, giving our clientele superior workable acumen & insightful business intelligence that is meant to take their companies to the top.
Contact us today and know about our Factor Analysis solutions in detail.
