Leading zeros have no value and therefore 001 is the same as 1 or one. If you meant 0.001 then the 1 is in the thousandths place and therfore represents one thousandth.
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001 = one
23 times .001 = 0.023
.001 percent = .001 per hundred = .01 per thousand = 10 per million
0.001 = milli 0.000 001 = micro 0.000 000 001 = nano 0.000 000 000 001 = pico
Sqrt(001) = sqrt(1) = ±1