Pericardial Fluid Analysis aids in distinguishing between exudate and transudate by evaluating protein levels, cell counts, and other parameters in the pericardial fluid. High protein levels and an elevated white blood cell count are indicative of an exudate, suggesting inflammation or infection, while a transudate is typically associated with congestive heart failure and has lower protein content. This differentiation is crucial for diagnosing the underlying cause of pericardial effusion.