accuracy Archives

November 11, 2003

Mail Order Price-Listing Typo Cost Company Over $2 Million

The omission of a digit on a mail order site causes company to lose over $2 million in revenue. Fifteen hundred units had already been sold at the drastically reduced price (19,800 yen instead of 198,000) before the error was caught. Want to read more about the cost of this typo?

December 14, 2005

Botched Stock Trade Cost Japan Firm $225M: Government Watchdog Rebukes Stock Exchange, Broker

A Japanese securities firm employee made an error when placing a sell order. Instead of selling 1 share at 610,000 yen, the numbers were reversed and 610,000 shares were sold for 1 yen causing mayhem in the Japanese market. Want to read more about the cost of this error?

June 15, 2010

American Medical Association: Insurers File 1 in 5 Claims Inaccurately

One in five medical claims is processed inaccurately by commercial health insurers, often leaving physicians shortchanged, according to the nation’s largest doctor’s group. This article states that, “The AMA estimates that increasing the industry’s accuracy to 100% would save doctors and insurers up to $15.5 billion a year.” Read more about this example of how improving accuracy can increase the bottom line.