How is qualitative data typically characterized?

Qualitative data is characterized by its focus on qualities and subjective experiences rather than on measurable quantities. This type of data often involves descriptions, observations, and interpretations that provide insights into people's thoughts, feelings, and behaviors. It is typically collected through methods such as interviews, focus groups, or open-ended survey questions, allowing for a deeper understanding of the context and complexity of a particular subject.

The emphasis on subjective experiences means that qualitative data does not lend itself to numerical representation and generally offers a more nuanced view of human experiences. This understanding is essential in various fields, including psychology, sociology, and market research, where capturing the essence of people's feelings and perceptions is crucial.

The other options suggest characteristics that do not align with the fundamental nature of qualitative data. For instance, the idea that it is always numeric contradicts the core definition, as qualitative data cannot be reduced to numbers. Also, associating qualitative data strictly with financial data misses the broader scope of qualitative research, which extends far beyond economics. Additionally, while qualitative data can be included in surveys, it is typically collected through more targeted and detailed approaches rather than large-scale, quant-focused surveys designed for quantitative data collection.