Sometimes we need to calculate accuracy and **precision in Excel**. It helps us in statistics and data analysis to avoid significant data loss and minimize the unnecessary errors that occur during calculation. In this article, we are going to learn about some quick methods to calculate accuracy and precision in Excel with some examples and explanations.

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**Practice Workbook**

Download the following workbook and exercise.

## 3 Quick Methods to Calculate Accuracy in Excel

The proximity of experimental values to the true value is known as accuracy. Suppose, we have a **PRODUCT **dataset (**B4:E9**) with their forecasted demand in column **C** & actual demand in column **D**. We are going to calculate the accuracy of the forecast.

### 1. Apply IF Function to Calculate Accuracy in Excel

**Excel IF Function** is one of the logical functions which help us to check the condition as well as return one value if itâ€™s true and another value if itâ€™s false. Here we can use the **IF **function to calculate the error first and then subtract it from **1**.

**STEPS:**

- First, select
**Cell E5**. - Next, type the formula:

`=1-IF(C5>D5,(C5-D5)/D5,(D5-C5)/D5)`

- Now hit
**Enter**. - Then, use the
**Fill Handle**tool to autofill the next cells. - After that, select the range and go to the
**Home**tab. - Further, select the â€˜
**%**â€™ from the**Number**section.

- Finally, we can see the accuracy percentage in Excel.

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### 2. Calculate Accuracy with Excel ABS Function

**The ABS Function** in Excel returns a numberâ€™s absolute value. We can use this function to calculate the accuracy like **Method 1**. Letâ€™s see how we can do this.

**STEPS:**

- In the beginning, select
**Cell E5**. - After that, write the below code:

`=1-ABS(C5/D5-1)`

- Then, press the
**Enter**. - Now, use the
**Fill Handle**tool for the below cells. - Further, after selecting the range, go to
**the Home tab**. - Next, select the â€˜
**%**â€™ from the**Number**section.

- In the end, we will see the result like the below screenshot.

### 3. Combine Excel MAX & MIN Functions to Get Accuracy

**The MAX Function** returns the maximum value whereas **the MIN Function** returns the minimum value of the given argument. Sometimes we can calculate the accuracy by combining the **MAX **&** MIN **functions in Excel. Letâ€™s go through the procedure.

**STEPS:**

- First, select
**Cell E5**. - Secondly, write down the below code:

`=1-(MAX(C5:D5)-MIN(C5:D5))/D5`

- Thirdly, press the
**Enter**key. - After that, use the
**Fill Handle**tool to apply the formula to the next cells. - Next, select the range.
- Now, go to the
**Home**tab. - Then, select the â€˜
**%**â€™ from the**Number**section.

- Finally, we can see the result in the same column.

## How to Set Round Precision after Calculating Accuracy in Excel

Precision refers to how closely measured quantities are related to one another. Excel helps us to round the precision and saves our time. Setting the value as the rounded value may help to avoid using functions like **ROUND**, **ROUNDUP**, and **ROUNDDOWN **functions. Suppose, we have the same accuracy dataset as above. Letâ€™s go through the procedure to round precision in Excel. We may also lose the accuracy of the product as the numbers are rounded.

**STEPS:**

- In the beginning, go to the
**File**tab.

- Next, select the
**Options**feature.

- An
**Excel Options**window will pop out. - Now go to the
**Advanced**group. - Then select the â€˜
**Set precision as displayed**â€™ option from the â€˜**When calculating this workbook**â€™ section. - A
**Microsoft Excel**warning message shows up here. - Click
**OK**to continue the process.

- Furthermore, we will decrease the decimal to set rounding precision.
- For that, select the cell range
**E5:E9**. - After that, go to the
**Home**tab. - From the
**Number**section, select the**Decrease Decimal**option to round with precision.

- In the end, we will see the result below. That means the selected cells are rounded with precision.

**Read More****: Round to Nearest Whole Number in Excel (9 Easy Methods)**

## Things to Remember

There are some things that we need to remember while calculating accuracy and precision in Excel.

- If the
**Actual**value is very much less than the**Demand**value, then it will return a negative or zero accuracy percentage in that case (see screenshot).

- To calculate the
**Error**percentage instead of the accuracy percentage in the case of a huge gap between the**Actual**&**Demand**values. For that, in**Cell E5**the formula:

`=ABS(C5/D5-1)`

- The
**#DIV/0! Error**occurs when the**Actual**value becomes**0**like in the screenshot below.

- We need to put the brackets properly in the formula that we used.
- We may lose accuracy when the value is set to round with precision as it deletes extra data permanently.
- Press
**Alt**+**T**+**O**keys to open the**Excel Options**feature directly.

## Conclusion

By using these methods, we can quickly calculate accuracy and precision in Excel. There is a practice workbook added. Go ahead and give it a try. Visit **the ExcelDemy** website for more articles like this. Feel free to ask anything or suggest any new methods.

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