Identification of Critical factors through PLS
I am trying to find out critical factors through multiple PLS like Initially I have selected all factors and based on variable importance plot (VIP) I reduced the factors. 2nd time I did PLS with those selected factor and VIP and again reduced the factors. Continued the process till to get all critical factors (VIP > 0.8, factors could be 3 or 4). Is it right approach to find out critical factors ...