1. An apparatus for analyzing analyte composition of a sample without immersing a part of the apparatus therein, comprising: (a) a source of electromagnetic radiation for irradiating the sample to result in radiation interaction; (b) a detector for detecting electromagnetic radiation resulting from the radiation interaction from the sample to result in analytical data, said detected electromagnetic radiation having a signal indicative of the analyte; and (c) a processor having a modeling algorithm for applying to said analytical data from step (b) to determine quantitative characteristics of the analyte in the sample, said modeling algorithm having parameters, for determining said quantitative characteristics, obtained by applying wavelet basis functions of resolution levels having amplitude-frequency characteristics resembling amplitude-frequency characteristics of radiation interaction data derived by irradiating calibration samples having known concentration of the analyte.