/ Dictionary / Index F factor analysis: Meaning and Definition of Find definitions for: fac'tor anal"ysis Pronunciation: [key] — Statistics. Statistics. the use of one of several methods for reducing a set of variables to a lesser number of new variables, each of which is a function of one or more of the original variables. Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease. factorage factor group Related Content Daily Word Quiz: endear Analogy of the Day: Today’s Analogy Spelling Bee: Today’s Spelling Bee Frequently Misspelled Words Frequently Mispronounced Words Easily Confused Words Writing & Language