Monitoring and processing settlement data of construction works on soft ground are essential tasks. Currently, in Vietnam, as guided in TCVN 9842:2013, “Treatment of soft ground by vacuum consolidation method with sealed air membrane in traffic construction—Construction and Acceptance,” it is possible to use the graphical hyperbolic method to determine predictive results for processing soft ground settlement monitoring data. However, this standard has not given specific guidance on evaluating the accuracy of the calculated results. In this paper, to enhance the accuracy of data processing using the hyperbolic settlement model, the author has studied the application of the least squares principle and error theory to process soft ground settlement monitoring data using the precise analytical method. This study also aims to determine and evaluate the accuracy of the calculated results in order to help the users control the quality of soft ground settlement monitoring data and contribute to the safety of projects built on soft ground.