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Titration is a cost effective and an easy analytic method to deduce the exact concentration of a solution.
Titration is easiest of all the analytic methods available to find out the exact concentration of a solution. It is quite simple as all we need is a burette, a pipette, and a suitable indicator, in case the end point is determined by the appearance or disappearance of colour. Titrations are usually carried at standard temperature and pressure. Other analytical methods include colorimetric methods combined with spectrophotometry (uses light scattering of chemical molecules), High pressure liquid chromatography/Gas chromatography combined with mass spectrometry and enzymatic analysis, to name a few.
During a titration, the concentration of one of the chemicals is known accurately. Acid-base titration or Permanganate and Ferrous Ammonium sulphate are the most popular titrations used in high school level to deduce the concentration of an unknown compound precisely. To visually indicate that the chemical reaction is completed an indicator is used which changes it color at end point (completion point of titration). Alternatively, one could use a pH sensor to monitor the pH changes during an acid/base titration. Compared to GC or LC MS, during the titration process, the substance for which the concentration is determined undergoes a true chemical change.