Can DOUBLE Effectively Store Monetary Values in MySQL?

DOUBLE vs DECIMAL in MySQL: Debunking the Double Dilemmas

Despite the widespread advice against using DOUBLE for monetary storage in MySQL databases due to potential precision errors, some existing systems rely heavily on this data type. This raises the question: can DOUBLE effectively store monetary values without significant drawbacks?

While it's true that DOUBLE can exhibit rounding issues and produce slightly inaccurate results in calculations, it's essential to consider the specific usage context. In cases where:

• No SQL arithmetic operations are performed on the database.
• All calculations are performed in Java using BigDecimal, with MySQL serving as mere storage.
• Monetary values typically have 2 decimal digits, with occasional smaller numbers for formula arguments.
• No known precision-related bugs have been encountered in a 6-year production environment.

It follows that DOUBLE may not pose a significant issue in this particular use case. Empirical evidence suggests that even complex operations on large datasets do not introduce noticeable precision loss.

However, it's worth noting that DOUBLE inherently uses floating-point mathematics, which can lead to slight approximations. For certain financial applications where absolute precision is crucial, it may still be advisable to consider the more accurate DECIMAL data type.

Ultimately, the decision between DOUBLE and DECIMAL depends on the specific requirements of the system. For instances where precision is paramount or complex SQL arithmetic operations are common, DECIMAL is a safer choice. However, in scenarios that align with the criteria outlined above, DOUBLE may suffice without compromising data integrity or functionality.

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