Calculating significant digits requires understanding the number of significant figures in the data used for computations. The result should be rounded to match the least number of significant figures from the values involved in the calculation. For example, using 3.14 for pi means the answer must be rounded to two decimal places, regardless of other figures. When multiplying, the accuracy of the result can be affected significantly, as demonstrated with the example of multiplying pi by 1000. Mastering significant figures is crucial for ensuring precision in mathematical and scientific calculations.