I'm a novice to photography and I'm wondering if its possible to combine multiple cameras to get a greater level of precision? I'm thinking that if you capture more light you should be able to improve the quality?
What is the name of this process?
What you are suggesting is very much along the lines of how radio telescope arrays work.
Overlaying multiple images from the same camera (be that video or still) is a well known way to reduce noise (it normalises the image) or to gather more detail in low resolution images.
To grab small areas, for example faces from CCTV, it is possible to use multiple cameras.
However I don't know what the process is called.
Using multiple cameras to shoot the same subject were first done on television in the 1920s. Cinerama is a widescreen process that use three film cameras and then three film projectors.
Combining pictures into one picture is called Compositing.
If by precision you mean its resolution, then the process is called Multi-exposure Image Noise Reduction.
If by precision you mean its dynamic range/luminance, then the process is called High Dynamic Range Imaging.
If by precision you mean freezing the subject's motion, then the process is called Timeslicing.
By the way, taking shots of the same subject with different camera settings, by one or more cameras, is called Bracketing.