Can a measure of accuracy be constructed that takes the seriousness of failure into account? Steve Teig, founder and CEO of Perceive, believes so. He notes that popular measures of accuracy tend to be ...

As for precision, if we apply exactly 1 V over and over to our system, which can resolve 1 µV, we would get exactly 1 V instead of 0.999999 V or 1.000001 V. Assuming we have sufficient accuracy ...