Is it possible to change the existing data types of custom fields, if Yes please explanin?


Yes. Its possible but Changing the data type of an existing custom field can cause data loss in the following situations:
  • Changing to or from type Date or Date/Time
  • Changing to Number from any other type
  • Changing to Percent from any other type
  • Changing to Currency from any other type
  • Changing from Checkbox to any other type
  • Changing from Picklist (Multi-Select) to any other type
  • Changing to Picklist (Multi-Select) from any type except Picklist
  • Changing from Auto Number to any other type
  • Changing to Auto Number from any type except Text
  • Changing from Text Area (Long) to any type except Email, Phone, Text, Text Area, or URL

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