What is the real difference between study and analysis and which is it better adapted to a loan application?

Study gives you the theoretical knowledge and guidelines on how the loan application should be proceeded, but the analysis is more of a real life situation where in real data is provided and it's real time situation. I personally believe both of them are very important and when it comes to processing a loan application one has to first process through  the study process by analyzing the facts and figures in front of us.     

I concider both study and analysis. Study helps to get the knowledge about loan application and analysis helps to make decisionto adopt a better laon application