Let \phi(G) be the minimum conductance of an undirected graph G, and let
0=\lambda_1 <= \lambda_2 <=... <= \lambda_n <= 2 be the eigenvalues of the
normalized Laplacian matrix of G. We prove that for any graph G and any k >= 2,
\phi(G) = O(k) \lambda_2 / \sqrt{\lambda_k}, and this performance guarantee
is achieved by the spectral partitioning algorithm. This improves Cheeger's
inequality, and the bound is optimal up to a constant factor for any k. Our
result shows that the spectral partitioning algorithm is a constant factor
approximation algorithm for finding a sparse cut if \lambda_kisaconstantforsomeconstantk.Thisprovidessometheoreticaljustificationtoitsempiricalperformanceinimagesegmentationandclusteringproblems.Weextendtheanalysistoothergraphpartitioningproblems,includingmulti−waypartition,balancedseparator,andmaximumcut.