BigDecimal
BigDecimal is a class in Java (and similar implementations in other languages) that provides arbitrary-precision decimal arithmetic for precise financial and scientific calculations. It allows developers to perform exact decimal operations without the rounding errors inherent in floating-point types like float or double, making it essential for applications where accuracy is critical, such as currency handling or high-precision measurements.
Developers should use BigDecimal when dealing with monetary values, tax calculations, or any scenario requiring exact decimal precision to avoid floating-point inaccuracies that can lead to financial discrepancies. It is particularly valuable in banking, e-commerce, and scientific computing applications where even minor rounding errors are unacceptable, ensuring reliable and predictable results in arithmetic operations.