Burn rate is a better error rate

Error budget and burn rate are crucial concepts in building Service Level Objectives (SLO) products. An error budget is the acceptable error rate for a service, while burn rate indicates how fast a service consumes its error budget. Burn rates are typically more useful than simple error rates as they take into account the expected error rate decided by service owners. They can be calculated over any time frame and provide better visibility and less noise on dashboards and in alerting systems compared to error rates.