Say we have an $N \times q$ matrix $Y$ with $N>q$. Also, we have an $N \times p$ data matrix $X$.
We are interested in a model of $Y = X \times W + \epsilon$, where $W$ is a $p \times q$ matrix with $q<p$.
1) Is this possible and how would you do it?
2) Can you modify PCA to some kind of supervised/guided PCA that takes $Y$ into account?
EDIT: It has come to my attention (thanks to @Whuber) that you can estimate (1) by vector regression, keeping the linear formulation.
More generally, given the setup, is it possible to estimate a function $Y = f(X)$, where $f:\mathbb{R}^{N\times P}\mapsto\mathbb{R}^{N\times Q}$? I'm happy to hear about machine learning approaches.