A quantile is a statistical term that refers to dividing a dataset into equal parts. For example, the median is a type of quantile that splits the data into two equal halves. Other common quantiles include quartiles, which divide the data into four parts, and percentiles, which divide it into one hundred parts. These divisions help in understanding the distribution of data points within a dataset. Quantiles are useful in various fields, including finance, healthcare, and education, as they provide insights into data trends and patterns. By analyzing quantiles, researchers can identify outliers, assess performance, and make informed decisions based on the distribution of values.