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Definition: Factors

When doing an experimental study, it is important to identify the variables of interest and some of the variables will be critical to quality.

Simply put, the factors are the controlled independent variables in an experimental study that can be manipulated by the experimenter. These variables are referred to as the factors. These factors can influence each other or influence another variable (response variable) or simply the response of the overall system. The factors may have two or more levels, the combination of which is called treatment.

An ideal example is the experimental study of the quality of education at a specified university. This will include factors like the quality of the teaching faculty, the quality of incoming students, the infrastructure involved, the management of the university etc. One way of identifying the critical factors in an experimental study is by a method called factor analysis. It is a data reduction process that reduces the number of variables to a limited number of factors.

So factor analysis basically

i) identifies the number of factors

ii) defines the factors

iii) studies the factors that have been defined. Factor analysis can be exploratory factor analysis as well as confirmatory factor analysis.

Exploratory factor analysis identifies complex relationships of items and confirmatory factor analysis tests the hypotheses which are associated with particular factors.

Hence, this concludes the definition of Factors along with its overview.

Browse the definition and meaning of more terms similar to Factors. The Management Dictionary covers over 7000 business concepts from 6 categories. This definition and concept has been researched & authored by our Business Concepts Team members.

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