What are the types of multivariate analysis?

Multivariate analysis refers to statistical techniques that are used to analyze data with multiple variables. The main types of multivariate analysis include multivariate regression analysis, factor analysis, cluster analysis, and principal component analysis. Multivariate regression analysis is used to examine the relationship between multiple independent variables and a dependent variable. Factor analysis is used to identify underlying dimensions or factors in a dataset. Cluster analysis is used to group similar observations together based on their characteristics. Principal component analysis is used to reduce the dimensionality of a dataset while preserving most of the original information. These types of multivariate analysis provide valuable insights into complex data sets and help researchers uncover patterns and relationships among variables.

This mind map was published on 26 October 2023 and has been viewed 51 times.