Event Details

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Factor Analysis

Please join us at Hopewell downtown on Chestnut St. for our February event where Ahmad Ahmad will talk about factor analysis.

Factor analysis is a data reduction technique, similar to but different than clustering (which was covered in our September 2019 event with Dr. Michael Levin). While clustering aims to reduce the number of observations, factor analysis aims to reduce the number of variables by revealing an underlying factor, or attribute, among variables that behave similarly. Take for example socioeconomic status — the variable itself cannot be captured, however it is the common factor among income bracket, race, gender and so on.

This kind of analysis is very popular in survey data, as attitudes are often times captured by multiple variables or questions. Factor analysis is a widely used method in many different industries, and Ahmad will walk us through some examples!