A "ballpark estimate" refers to a rough approximation or educated guess about a value, cost, or time frame. It is not an exact figure but provides a general idea to help in decision-making. This type of estimate is often used in business, project planning, and budgeting to give stakeholders a sense of what to expect. Ballpark estimates are useful when detailed information is not available or when quick assessments are needed. They can help guide discussions and set expectations, but it is important to remember that they may not reflect the final or precise numbers.