I checked it and it turns out that what I did in Excel was a time-consuming and complicated thing that after all didn't work as well as the traditional factor analysis (that I didn't do in Excel). However, even with the factor analysis I used Excel to present the data in a scatter plot. If you also want to visualize your data you may want to use it as a template. Here it is.
Does anyone know of a free programme for Windows in the vein of Plainstat? I'm looking to analyse some end of year lists for Factor Analysis, Pearson's and so on. Trying to do it in Excel looks like an nightmare (speaking as Statistician as well!)
SPSS is perfect for factor analysis, maybe there's some trial version available for it. Alternatively, if you're still in university like me you can usually get it for close to nothing.
Just to get back to this, it is indeed possible to get a 14 day trial of SPSS here. I've been using SPSS for quite a while, but it is like $2000+ to buy, whereas I paid some $15. It's possible get download it illegally as well, but that requires some effort to get running.
