\documentclass[]{standalone}
\usepackage{tikz}
\usetikzlibrary{arrows.meta}
\usepackage{ninecolors}

\begin{document}
\begin{tikzpicture}
%\filldraw [gray5] (-1,-1) circle[radius=1mm];
\draw [black, ultra thick, -{Stealth[scale=1.3,inset=1pt, angle=90:10pt]}] (-1,0) -- (-1,18);
\draw [black, ultra thick, -{Stealth[scale=1.3,inset=1pt, angle=90:10pt]}] (0,-1) -- (18,-1);
\node[] at (9,-1.5) (a) {{\Large Greater Accuracy}};
\node[rotate=90] at (-1.5,9) (b) {{\Large Greater Precision}};
% Bottom left
\draw [very thick, red7] (4,4) circle[radius=4cm];
\draw [very thick, blue7] (4,4) circle[radius=3cm];
\draw [very thick, red7] (4,4) circle[radius=2cm];
\draw [very thick, blue7] (4,4) circle[radius=1cm];
\filldraw [red7] (4,4) circle[radius=3mm];
% Bottom right
\draw [very thick, red7] (13,4) circle[radius=4cm];
\draw [very thick, blue7] (13,4) circle[radius=3cm];
\draw [very thick, red7] (13,4) circle[radius=2cm];
\draw [very thick, blue7] (13,4) circle[radius=1cm];
\filldraw [red7] (13,4) circle[radius=3mm];
% Top left
\draw [very thick, red7] (4,13) circle[radius=4cm];
\draw [very thick, blue7] (4,13) circle[radius=3cm];
\draw [very thick, red7] (4,13) circle[radius=2cm];
\draw [very thick, blue7] (4,13) circle[radius=1cm];
\filldraw [red7] (4,13) circle[radius=3mm];
% Top right
\draw [very thick, red7] (13,13) circle[radius=4cm];
\draw [very thick, blue7] (13,13) circle[radius=3cm];
\draw [very thick, red7] (13,13) circle[radius=2cm];
\draw [very thick, blue7] (13,13) circle[radius=1cm];
\filldraw [red7] (13,13) circle[radius=3mm];
% Low precision, low accuracy
\node[] at (2,2) {$\times$};
\node[] at (4,5.5) {$\times$};
\node[] at (3,4.8) {$\times$};
\node[] at (6,1.5) {$\times$};
\node[] at (7,3.5) {$\times$};
% Low precision, high accuracy
\node[] at (12.5,4.5) {$\times$};
% High precision, low accuracy
% High precision, High accuracy
\end{tikzpicture}

\end{document}