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Principal Component and Factor Analysis

In: A Concise Guide to Market Research

Author

Listed:
  • Marko Sarstedt

    (Otto-von-Guericke- University Magdeburg)

  • Erik Mooi

    (The University of Melbourne)

Abstract

We first provide comprehensive and advanced access to principal component analysis, factor analysis, and reliability analysis. Based on a discussion of the different types of factor analytic procedures (exploratory factor analysis, confirmatory factor analysis, and structural equation modeling), we introduce the steps involved in a principal component analysis and a reliability analysis, offering guidelines for executing them in SPSS. Specifically, we cover the requirements for running an analysis, modern options for extracting the factors and deciding on their number, as well as for interpreting and judging the quality of the results. Based on a step-by-step description of SPSS’s menu options, we present an in-depth discussion of each element of the SPSS output. Interpretation of output can be difficult, which we make much easier by means of various illustrations and applications, using a detailed case study to quickly make sense of the results. We conclude with suggestions for further readings on the use, application, and interpretation of factor analytic procedures.

Suggested Citation

  • Marko Sarstedt & Erik Mooi, 2019. "Principal Component and Factor Analysis," Springer Texts in Business and Economics, in: A Concise Guide to Market Research, edition 3, chapter 8, pages 257-299, Springer.
    • Handle: RePEc:spr:sptchp:978-3-662-56707-4_8
    DOI: 10.1007/978-3-662-56707-4_8
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