Numerical approximation refers to estimating a value or quantity using mathematical methods. Synonyms for numerical approximation include estimation, approximation, prediction, projection, calculation, computation, and measurement. These words all imply a degree of uncertainty or margin of error in the result. Other synonyms for numerical approximation include modeling, simulation, and extrapolation. These words suggest the use of mathematical models or algorithms to predict or project future outcomes. In some cases, numerical approximation may also be referred to as statistical analysis or data analysis, which involves the use of statistical methods to examine and interpret data. Regardless of the term used, numerical approximation is an essential tool for many fields, from science and engineering to finance and economics.