What is the difference between deduction and induction in reasoning and how do they each contribute to forming conclusions?

Deduction involves drawing specific conclusions from general principles or premises, while induction involves drawing general conclusions from specific observations or evidence. Deduction is used to ensure logical validity in reasoning, while induction is used to make generalizations based on patterns or trends. Both deduction and induction play important roles in forming conclusions by providing different ways to reason and make sense of information.