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Data analysis is categorized into two main types: quantitative and qualitative analysis. Quantitative analysis involves measurable data, such as body temperature, which can indicate the severity of an illness (e.g., 100°F or 102°F) and shows recovery (e.g., returning to 98°F). However, while this measurement is critical, it does not reveal the underlying cause of the illness. For that, qualitative analysis is necessary, as it examines symptoms like stomach pain, nausea, or headache to determine the exact reason for the illness. Both types of analysis are crucial in patient treatment, and this concept also applies to credit analysis.
