We have constructed an empirical formulae for the fusion and interaction barriers using experimental values available till date. The fusion barriers so obtained have been compared with different model predictions based on the proximity, Woods-Saxon and double folding potentials along with several empirical formulas, time dependent Hartree-Fock theories, and the experimental results. The comparison allows us to find the best model, which is nothing but the present empirical formula only. Most remarkably, the fusion barrier and radius show excellent consonance with the experimental findings for the reactions meant for synthesis of the superheavy elements also. Furthermore, it is seen that substitution of the predicted fusion barrier and radius in classic Wong formula [C. Wong, Phys. Rev. Lett. {31}, 766 (1973)] for the total fusion cross sections satisfies very well with the experiments. Similarly, current interaction barrier predictions have also been compared well with a few experimental results available and Bass potential model meant for the interaction barrier predictions. Importantly, the present formulae for the fusion as well as interaction barrier will have practical implications in carrying out the physics research near the Coulomb barrier energies. Furthermore, present fusion barrier and radius provide us a good nucleus-nucleus potential useful for numerous theoretical applications.