Persistence vs Storage for loki in AKS

In Grafana loki stack documentation, we have both persistence(Creating PVC) and Storage options(Blob Storage in Azure), I am unable to understand from document, that both options being used for the purpose of Retention of logs, are these options mutually exclusive, i.e we have to use one of the option at a time, best suited for our scenario or both of the options can be used together, if this is the case how do these both options work together, i.e the individual purpose of these both options in combined scenario.

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