I would like to figure out why some devices of my company fail. Therefore, I'm able to use a list in which around 300 devices are listed together with about 70 parameters while only half of it is numerical, the others are mostly ok/not ok or quite a bunch of comments. The latter is hard to use for an analysis, I guess? However, the list contains mainly devices which failed within their first year (which means our warranty kicked in ^^).
I'm thinking about how to tackle this task in means of methods. At the moment I'm eyeballing on the data via scatter plots / correlations. I'm aware of various methods but I wonder which makes really sense instead of applying methods I can hardly draw insights from. My next move will be a PCA and/or a EFA, also already wonder, which makes more sense? Does a PCA really reveal information about the most influence (here)? Or instead a SEM? I've never worked with the latter one but it seems like what I'm looking for? However, it seems I have to know the so-called "latent" variable upfront resp. what it could be but this is what I am looking for? Could you evaluate those methods and/or provide some other useful approaches?