Data Science PPT 2.0
Data Science PPT 2.0
ANALYSIS &
FACTOR ANALYSIS
Ashber Khan 20211-30975
Syed Muhammad Aalyan 20211-30994
Haseeb 20211-31073
Hammad Ahmed 20211-20625
Huzaifa Jamal 20211-31055
Ashna Shahadat (20211-30015)
MULTIVARIATE
ANALYSIS
Multivariate Analysis plays a crucial role in
statistical analysis by allowing researchers to
simultaneously examine the relationships among
multiple variables.
Multivariate Analysis, including methods like Factor Analysis, simplifies data complexity
by concurrently examining relationships among multiple variables. This approach reveals
hidden patterns and shared factors
MULTIVARIATE
SIGNIFICANCE
Factor Analysis is crucial for unveiling the hidden structures or latent factors that contribute
to the observed variability in a dataset..
This process helps simplify the complexity of data, as it allows us to focus on the
commonalities among variables rather than dealing with each one individually.
FACTOR
USAGE
Multivariate Analysis is particularly useful when studying relationships among
multiple variables. For instance, in social sciences, it can help explore connections
between income, education, and job satisfaction simultaneously. Similarly, in
business, it's valuable for analyzing the impact of various marketing strategies on
sales, considering multiple factors at once.
LIMITATIONS
While Multivariate Analysis is a powerful tool, it's essential to acknowledge its
limitations. Instances where assumptions, such as normal distribution or
homoscedasticity, are violated may compromise the accuracy of results.
Additionally, in situations where there's a lack of sufficient data or when variables
are highly correlated, the reliability of the analysis might be compromised.
ADVANTAGES &
DISADVANTAGES OF
MULTIVARIATE ANALYSIS
ADVANTAGES
1. Holistic Perspective: Examines relationships among multiple variables
simultaneously.
DISADVANTAGES
1. Interpretation Challenges: Results can be complex and challenging to interpret.
2. Sample Size Requirements: Often requires larger sample sizes for robust results.
DISADVANTAGES
1. Subjectivity: Selection of the number of factors can be subjective.
2. Assumption Dependency: Sensitivity to assumptions like linearity and normality.
3. Computational Demands: May be computationally demanding, especially with large
datasets.
Applications
Market Research:
- Multivariate analysis is employed to analyze consumer behavior, identify market
trends, and segment target audiences based on multiple variables.
Biology:
- In genomics and proteomics, multivariate analysis is used to analyze complex datasets,
such as gene expression profiles, to identify patterns and correlations.