Revision (noun)

1. The process of examining or modifying something to improve it or correct errors.
2. An updated version of something, especially a text or document.
3. The act of revising or the state of being revised.

Origin:

From the latin revisio meaning a looking back, from re- + visio meaning a seeing.

Examples:

1. The revision of the budget was necessary to allocate resources more effectively.
2. The revision of the manuscript improved the clarity of the argument.
3. The revision process involved many rounds of feedback and editing.
4. The revision of the tax code aimed to simplify the system and reduce loopholes.
5. The revision of the textbook included updates on recent scientific discoveries.