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precision (noun, adjective):

noun
1: the quality or state of being precise : exactness
2a: the degree of refinement with which an operation is performed or a measurement stated
b: the accuracy (as in binary or decimal places) with which a number can be represented usually expressed in terms of the number of computer words available for representation

adjective
1: adapted for extremely accurate measurement or operation
2: held to low tolerance in manufacture
3: marked by precision of execution

Source : Merriam -Webster

Etymology : Many of us often use precision and accuracy as synonyms, but not scientists and engineers. For them, accuracy describes a particular measurement—that is, how close it is to the truth. But precision describes a measurement system—that is, how good it is at giving the same result every time it measures the same thing. This may be why even nonscientists now often speak of “precision instruments” for measuring, “precision landings” made by aeroplanes, “precision drilling” for natural gas, and so on.

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