1. A method for generating a multi-dimensional printer profile look-up table for color correction, the method comprising the steps of: receiving color signals defining a plurality of nodes in a device independent color space; and for each of the nodes: generating, by a processor without user interaction and using the received color signals in the device independent color space, an initial estimate for a black (K) component in a four-color color space for the received color signals in the device independent color space, generating initial estimates for the non-black components in the four-color color space from the generated initial estimate for the black (K) component and the received color signals in the device independent color space, and generating a printer profile comprising a map that maps the device independent color space to the four-color color space using the generated initial estimates for the black (K) and the non-black components in the four-color color space.