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Data analysis can be categorized into two main types: quantitative and qualitative analysis. For example, when assessing a fever, quantitative analysis involves measuring body temperature (e.g., 100°F or 102°F), while qualitative analysis considers other symptoms, such as stomach pain or nausea, to determine the underlying cause of the illness. Both methods are essential for effective patient treatment. Similarly, these concepts are applicable in the context of credit analysis, where both quantitative metrics and qualitative factors play a crucial role in understanding and addressing the situation at hand.
