In order to use the most important variables among 100+, I am thinking to use factor analysis or PCA. Therefore I need to know if any differences exist between factor analysis and PCA. Thank you in advance.
The principal component analysis is very useful when your variables are cuantitative, because the method requires that. In factorial analysis you can have nominal, ordinal and cuantitative variables, as far i know (I never have to run a factorial analysis, sorry for the incomplete answer).
This tutorial and videotutorial of a popular statistical software might help you to understand better the concepts and differences:
The principal component analysis is very useful when your variables are cuantitative, because the method requires that. But, in factorial analysis you can have any variables. In addition to, factor analysis is one method based on PCA. Also, to assess relationship among different characters you can use of factor analysis.
You can use Factor Analysis with PCA as a method to estimate the components. The most important variables may be selected based on loadings (say greater than 0.7) from the significant components (may by at most 10 in your case).
Thank you all very much for your responses. Balázs Kotosz when I am saying most important variables, I mean a smaller number of variables that will be useful for my research.