Introducing Unit Invariant Knee (UIK) As an Objective Choice for Elbow Point in Multivariate Data Analysis Techniques

7 Pages Posted: 27 Sep 2017

See all articles by Demetris Christopoulos

Demetris Christopoulos

National and Kapodistrian University of Athens - Faculty of Economics

Date Written: March 1, 2016

Abstract

We are introducing the Unit Invariant Knee (UIK) point as an objective estimator for using elbow criterion in multivariate data analysis and especially in PCA, FA, AA and CA. Our computation is based on Extremum Distance Estimator (EDE) which is used for inflection and knee point identification. Examples of usage for each category are given using proper R codes.

Keywords: elbow criterion, factor analysis, PCA, archetypal analysis, cluster analysis, scree plot, variance explained, knee point, EDE

JEL Classification: C02, C65, C87

Suggested Citation

Christopoulos, Demetris T., Introducing Unit Invariant Knee (UIK) As an Objective Choice for Elbow Point in Multivariate Data Analysis Techniques (March 1, 2016). Available at SSRN: https://ssrn.com/abstract=3043076 or http://dx.doi.org/10.2139/ssrn.3043076

Demetris T. Christopoulos (Contact Author)

National and Kapodistrian University of Athens - Faculty of Economics ( email )

1 Sofokleous and Aristidou str.
Athens, 10559
Greece

HOME PAGE: http://users.uoa.gr/~dchristop/

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