I would like to know whether there is a condition in selecting the number of channels $M$ and filter length $N$. As of now I am trying to design a channelizer where the data length $M$ is much less than the FIR filter length $N$.
Right now I am referring to the paper "High Resolution Spectral Analysis and Signal Segregation Using the Polyphase Channelizer" for this implementation. The paper provides a solution to the problem by stacking the filter coefficients such that the the number of taps per channel will increase (where filter length $N=M \cdot K$ and finally the number of filter taps per channel is $K$).
Finally, what I understood from the paper is to do an element-wise multiplication with the input data with each of the filter taps of length ($K$ in this example) and do an average. I am not sure my understanding is correct. So if someone can give a clarity on the implementation it would be helpful.