I'm looking to analyzing data from a study and previous studies that are similar have used either PCA or hierarchical linear regression to analyze the data. I've used both PCA and linear regression previously. From my understanding PCA breaks the data down into principal components and is useful for learning what factors may be strong indicators of our dependent variable, and that linear regression can be used to compare correlation.
How should I be approaching this? If I'm simply wanting to find out what correlates the strongest with my studies dependent variable what would be the best option? Can I use both PCA and then hierarchical linear regression?