There are a wide variety of applications that are able to tolerate small errors in the values of the outputs, provided they are within the application-specific thresholds. For such applications, there have been many efforts to study the tradeoff involved in the accuracy of the output and the energy/area requirement. However, most of the efforts have been at the level of individual components. In this article, we present a design flow to study the inexactness at the level of system and provide heuristics to quickly explore the design-space under given inexactness and area/energy constraints. The approach is applied to various digital signal processing filters and an ECG application of QRS detection. In both cases, orders of magnitude speed-ups are obtained in the design-flow process. Area savings of 21.61% and power savings of 22.79% were observed for a low-pass filter having a relative error of just 8E-5%.