NoMethodError is a prevalent error in Ruby, occurring when an undefined method or attribute is called on an object. An example illustrates this with a simple calculator class that generates a NoMethodError when a non-existent divide method is called. To handle such errors more efficiently, especially in larger codebases where manually tracing errors is impractical, the method_missing() function can be implemented. This function acts as a catch-all mechanism, redirecting missing method calls to other objects or classes, thereby preventing the error from halting the program. The flexibility of method_missing() allows developers to decide its specific functionality. An example shows how method_missing() can provide a user-friendly message when an undefined method is called. Additionally, Rollbar is mentioned as a tool that automates error monitoring and management, providing real-time tracking and analysis to enhance confidence during code deployment.