twelve fourteen
We can digitize normalized sound output 0-0.5 Volts to 6, 8, 10, or 48 bits. Same story as in the cameras, same ADC functionality.
Due to better precision of 14-bit ADC low levels are clearer and more distinct then with 12-bit ADC, same in sound and in shadows in raw capture. But it is easy to see and even to calculate that here the difference between 12 and 14 bits ADCs is not that dramatic in this particular aspect of Dynamic Range (DR).
It is the slant of the linear transfer function determining smoothness of the output; and quantization noise due to low bit conversion limiting DR.
In direct experiment Kodak having 10-bit nonlinear compressed output still has more DR then 1D Mk3, both set to base ISO. Not at ISO 400+ of course, here they are not comparable at all. Canon 5D being 12 bits still have more DR (though just a little more, about a half of a stop) then 1D Mk3; also in direct experiment. I brought Kodak here because it is important to mention that not all cameras have linear analog stages, it is an urban legend. Scaling to linear is often done in digital domain in cameras now, but used to be in raw processing off-line, like in the case of Kodak and those Nikon cameras that for some reason can’t record uncompressed raw at all :).
Lets look at a sensor that has a well of 2^16 counts and zero noise at the floor. For 12-bit ADC one step is 16 counts. For 14-bit ADC it is 4 counts. How this alone means 2 stops more DR is beyond my comprehension. To get more DR after ADC more DR from the sensor is needed.
Only if the conversion step for both ADCs is the same 4 counts 14-bit ADC could provide 2 full extra stops. But then it should be pared with a sensor that has 2^18 well capacity.
Noise is hard to compare after ADC. 5 ADC counts of noise (nonrealistic number btw) is 80 "photons" in the above case, 12-bit ADC.
Finally, black point and white point are taken into account before demosaicing, otherwise white balance is junk because each channel is scaled by the white balance coefficients individually.