Difference Between Accuracy and Precision
Accuracy versus Precision
Accuracy:
The term accuracy refers to “closeness of measured value to its reference value”
or
Accuracy is characteristic of measuring system which shows difference between measured quantity and its absolute standard or value.
Precision:
For same object or for same reference point’s, closeness of the measured values is called precision.
Closer values of a measured quantity means more precision and more the difference among obtained readings mean less precision of that measuring process.
So in other words you simply can say the exactness of measured values to each other is called precision.
The Difference between precision and accuracy:

The difference between both accuracy and precision is shown in Table:
Precision | Accuracy |
Degree of closeness of measured values to each other. | Degree of closeness of measured value to its reference value. |
Describes measured values exactness. | Describes systemic and random errors. |
Shows variation in measurements when you measure same object or part. | Shows difference between measured value and true value. |
Indicates measuring instruments reliability also. | Indicates how correct measuring process is. |
In above figure the difference between precision and accuracy is graphical form .The yellow portion of graph shows values nearer to each other which means it’s precision and in orange portion values are closer to reference value so it shows accuracy.