Guess Estimate Accurate Precise

The future of business is uncertain. One thing that’s certain, is that the time for guessing and estimating is over.

guess estimate synonyms is a word game that helps users guess the meaning of words. The app estimates an accurate and precise answer.

Here’s how I interpret the distinctions between these terms. [I think they are not interchangeable.]

Guess: it was conjured up out of thin air. “Sure, no issue, easy-peazy!” says the narrator. I’m certain that I’ll be able to hit the target with all of my darts! Which target, um — uh — er — was that?”

Estimation: A forecast of the future based on previous data or study. “I’ve struck the target with my prior shots. I’m getting better. I believe I have a 65 percent probability of winning.”

Accurate: In a wide sense, the genuine facts and actual outcomes. “I was able to strike the target.”

Precise: Detailed information, classification, and analysis. “I nailed the bulls-eye once, the triple 20, and one dart that touched the target but was outside the scoring rings.”

Consider these ideas when you write your company strategy and evaluate it on a regular basis.

Leave these broad, broad generalizations out, I suppose. When you pluck them out of thin air, venture capitalists and investors can tell.

Make an educated guess: Do your homework. Forecasting is more than just making educated guesses. It is based on prior knowledge and analysis. Make sure to credit your sources.

Keep accurate records and utilize all of your findings. You can utilize the large picture, but if your perspective is too wide, it may not be useful. “The smoother the curve, the fewer the data points.”

Precise: Be truthful here. Take a careful look. Continue to do your planned evaluations on a regular basis. Do your research carefully and completely, even if the results aren’t precisely what you expected. You are neither accurate, exact, nor honest with yourself or everyone else involved in your company if you toss away half of your facts in order to achieve correspondence with your estimations.

—Steve Lange, Palo Alto Software Senior Editor

The guesstimate meaning is a word that is used to describe an estimate of how much something will cost. It does not have the same accuracy as other words like estimate or appraisal.

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