Analysis of Factors Affecting Saving and Investment Patterns in Uttarakhand Using Data Science Approaches

Saving and investment made by small investors is one of important components of economic growth. To foster economic growth, it is imperative that small investors should save and invest in an increasing trend. In this regard, it is important that the factors affecting saving and investment patterns of the small investors should be identified and strategies should be formed in such a way that these factors should act as a trigger to increase savings and investment. In the context of the above discussion, authors have attempted to analyze the factors affecting the saving and investment patterns of small investors. This study is processed by collecting responses from around 448 small investors in the four districts of Uttarakhand. Through a review of literature 30 variables were identified and by the exploratory factor analysis it was found that in total 5 factors are there which are affecting the saving and investment patterns of small investors. Further, data science approaches were also used to compare the results as provided by exploratory factor analysis and it was found that the results were in conformity with the earlier methods.