Raymond Cattell's factor analysis method

Definition

Raymond Cattell's factor analysis method is a statistical technique used to identify underlying factors or dimensions within a large set of variables. It helps in reducing complex data into simpler components and understanding the relationships between variables.

Related terms

Correlation coefficient: A statistical measure that indicates the strength and direction of the relationship between two variables.

Principal component analysis: A dimensionality reduction technique that identifies the most important features or components in a dataset.

Market segmentation: The process of dividing a market into distinct groups based on certain characteristics to better understand consumer behavior.