Numeric

Use integer for most things, numeric for money

double precision8 bytes

Scientific computation, analytics, geo coordinates.

Range

15 decimal digits precision

Performance

Hardware FPU. ~15 digits precision. Faster than numeric for large datasets.

Comparison

double precision vs numeric: double is faster but approximate. For financial or exact calculations, always use numeric. For analytics and science, double is fine.

SQL Example

CREATE TABLE locations (
  id bigint GENERATED ALWAYS AS IDENTITY PRIMARY KEY,
  latitude double precision,
  longitude double precision
);