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This node uses the model as generated by a Correlation node to determine which columns are redundant (i.e. correlated) and filters them out. The output table will contain the reduced set of columns.
The filtering step works roughly as follows: For each column in the correlation model the count of correlated columns is determined given a threshold value for the correlation coefficient (specified in the dialog). The column with the most correlated columns is chosen to "survive" and all correlated columns are filtered out. This procedure is repeated until no more columns can be identified. The problem of finding a minimum set of columns to satisfy the constraints is difficult to solve analytically. This method applied here is known to be good approximation, however.