You know that I am constantly saying do not spend your money without an ROI. So what is accuracy worth?
Not so easy a question. I hate to be negative, but lets approach the question from a different direction. What does inaccuracy cost? Still not super easy but some things start to come to mind.
Empirically have you ever lost your shirt on a job because it was quoted wrong? Are all the profits gone because of some very mechanical piece of the process that broke down? Lets not harp on super tired human beings that working 80 hour weeks without an equity stake in the company. I mean the type of really simple mistakes that a machine would not make.
MCF Tech just signed a new client today that has a pretty unique business. On first glance they look like a travel agency. That is not true. They actually book very complex European trips and maintain highly detailed itineraries. Not one week in a London hotel, but two weeks on The Continent in 10 different hotels with local cell phones, rental cars, castle excursions and boat trips. Everyone is unique to each customer. These are not the whirlwind bus trips of 1970’s where a herd of people gets prodded to move from stop to stop on the same route as the last tour group.
So what does inaccurracy cost? Get one date wrong on the schedule and you have got on the spot European hotel prices for 14 days if there is any vacancy. That will eat the margin on a lot of different sales.
So when you are thinking about automating business processes, look for your costs when something goes wrong and what that will take to fix.