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This paper introduces the newly developed principal component powered two-dimensional (2D) correlation spectroscopy (PC 2D-COS) as an alternative approach to 2D correlation spectroscopy taking advantage of a dimensionality reduction by principal component analysis. It is shown that PC 2D-COS is equivalent to traditional 2D correlation analysis while providing a significant advantage in terms of computational complexity and memory consumption. These features allow for an easy calculation of 2D correlation spectra even for data sets with