Meaning of the word "on the nose" in English

What does "on the nose" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

on the nose

US /ɑn ðə noʊz/
UK /ɒn ðə nəʊz/
"on the nose" picture

Idiom

exactly right; precise

Example:
His prediction about the election results was on the nose.
The comedian's timing was on the nose, making everyone laugh.