Matrix factorizations are a popular tool to mine regularities from data. There are many ways to interpret the factorizations, but one particularly suited for data mining utilizes the fact that a matrix product can be interpreted as a sum of rank-1 matrices. Then the factorization of a matrix becomes the task of finding a small number of rank-1 matrices, sum of which is a good representation of the original matrix. Seen this way, it becomes obvious that many problems in data mining can be expressed as matrix factorizations with correct definitions of what a rank-1 matrix and a sum of rank-1 matrices mean. This paper develops a unified theory, based on generalized outer product operators, that encompasses many pattern set mining tasks. The focus is on the computational aspects of the theory and studying the computational complexity and approximability of many problems related to generalized matrix factorizations. The results immediately apply to a large number of data mining problems,...