Estimate Accuracy

Estimate accuracy refers to how close an estimated value or prediction is to the actual result. It indicates the level of uncertainty involved—if an estimate is highly accurate, it means it closely matches what really happened or the true value. Conversely, a less accurate estimate may differ significantly from the real outcome. In professional settings, understanding estimate accuracy helps assess the reliability of forecasts, budgets, or project timelines, and guides better decision-making by recognizing the potential margin of error involved in any prediction.