Business Process Modeling has become a major task in the field of Business Process Management. There has been a trend within organizations towards adapting and reusing existing reference models for the modeling of individual business processes that belong to the same application domain to save time and costs. Due to the high availability of individual business process models together with the need for further reference models, the inductive development of reference models has gained tremendous importance. Meanwhile, different heuristic approaches have been proposed to the research community, based on median graph computation. By way of contrast, our approach tries to derive reference models based on factor analysis, which does not require an approximated matching between the individual business processes as an additional level of abstraction. The results of the described approach are compared to the results of an existing heuristic approach for a qualitative evaluation of both inductive development concepts.