Qualitative Analysis involves reviewing and interpreting non-quantitative data such as text, images, or observations to gain understanding of underlying phenomena. This analysis focuses on meanings, characteristics, symbols, and the ideas represented in the data rather than measuring them numerically. For example, this approach is helpful in analyzing customer feedback where the sentiments and themes are extracted from textual responses to understand customer satisfaction. Another example can be evaluating team performance through direct observations or examining month-end checklists to identify qualitative improvements for processes. In the context of financial reconciliations, a qualitative analysis might involve identifying the areas where team members often run into issues or bottlenecks based on their notes or commentary, helping to streamline workflows. This contrasts with quantitative analysis, which would involve numerical data like balance amounts or transaction volumes. Related terms include "Management Reports" and "Performance Measurement," as qualitative analysis often contributes significantly to providing actionable insights in these contexts.