Comparison and Conclusion

Both DECIMAL and NUMERIC datatypes in PostgreSQL are functionally equivalent, with DECIMAL being an alias for NUMERIC. There is no performance difference between the two, so the choice between them is largely a matter of preference or convention within an organization.

In conclusion, PostgreSQL offers powerful options for storing fixed-point numbers with the DECIMAL and NUMERIC datatypes. Understanding how these datatypes work and when to use them can help you design more efficient and accurate database schemas for your applications.

PostgreSQL is a powerful open-source relational database management system known for its robustness, extensibility, and adherence to SQL standards. When it comes to storing numeric data, PostgreSQL offers two main datatypes: DECIMAL and NUMERIC. While these datatypes are often used interchangeably, understanding their differences can help you make informed decisions when designing your database schema.

Advanced Relational Database: PostgreSQL, often referred to as Postgres, is a highly advanced and feature-rich relational database system. It provides a wide range of features, including support for complex queries, transactions, JSON data types, and user-defined functions, making it a popular choice for both small-scale and large-scale applications.