November 18, 2015

What is Accuracy?

Author: Stockpile Reports

When someone asks you if your watch is accurate, what do they mean?

Let’s first compare accuracy and precision. A measurement can be accurate without being precise.

Now that might sound confusing. That’s because many people use the words ‘accuracy’ and ‘precision’ interchangeably.

Those words are actually different from the other. Accuracy is the degree of conformity of a measured or calculated quantity to its actual (true) value. Precision is the degree to which further measurements or calculations show the same or similar results.

Let’s go back to the watch comparison: Accuracy is usually meant as the ability of a watch to keep time, as measured against a certain reliable external standard, or the “degree of conformity.” If a watch matches the time signal reasonably closely to an atomic clock, (for example, within 10-20 seconds of variance every month) most watch owners conclude that their watch is “accurate.”

Scientists usually refer to precision when they say a clock, or watch is precise if it will gain or lose a second over millions of years compared to an atomic clock. In fact, an atomic clock itself keeps time so precisely that it will neither gain nor lose a second for the next 15 billion years.

Our customers tell us that conducting precise stockpile measurements is both expensive and time-consuming. This often involves working with a third party with related expertise. It is not only expensive to hire surveyors or a measurement team, but the logistics can be difficult. Hiring an outside firm takes preparation time, and even causes sites to temporarily shut down production for safety reasons. This makes it difficult to take precise measurements more than a few times a year.

We certainly appreciate precision, but a lot of changes can happen to stockpiles in between precise measurements, if measurements are only made every six months, or once a year! Yet, that’s what often happens.

True inventory management and control arrives through frequent measurements, performed consistently. Measuring by plane, UAV (drone) and iPhone enables our subscribers to accurately and safely measure stockpiles weekly, monthly or quarterly.

We are proud that there is no need to hire a third-party to perform physical inventory. Our service is push-button simple: a load operator or a VP can measure the same stockpile, at the same time, and receive consistent report results.

Not only is it easy, but our patent-pending platform also returns highly accurate results. Our accuracy rate ranges cluster to within a few degrees of a precise measurement. This makes keeping track of physical inventory reliable and predictable.

Accuracy and Consistency

Consistent, frequent, physical inventory measurements reduce inventory discrepancies. Company financials require less adjustments. Our patent-pending platform also reduces labor costs, and improves worker safety.

Intrigued? Contact us to find out how your business can benefit from utilizing our service today.