Factor analysis is a statistical technique that is widely used in psychology and social sciences. Using computers and statistical packages, implementation of multivariate factor analysis and other multivariate methods becomes possible for researchers. Exploratory factor analysis and confirmatory factor analysis are applied in different studies; however, exploratory factor analysis as one of the most important data analysis methods is not well understood. Despite the rising number of researchers who understand it many researchers in various fields still have a false view. This paper reviews methods based on reliable sources and provides a practical guide to conduct an exploratory factor analysis. This paper presents step-by-step of different stages of exploratory factor analysis using SPSS and Montecarlo software. This study could pave the way for students, researchers and teachers who want to use heuristic analysis in their studies of different types of questions, purpose, method of analysis and report writing.