55/94 as a percentage is 58.51%. This value tells you that the fraction is a little more than half of a whole.
When you see 58.51% in a report or a chart, you can think of it as 58.51 parts out of every 100. It’s a quick way to compare the fraction with other numbers that are already in percent form.
In everyday use, rounding to two decimal places keeps the number precise enough for most calculations, while still being easy to read and work with.