What is a cost-benefit analysis of technology?

What is a cost-benefit analysis of technology?

A cost-benefit analysis of technology evaluates the financial and non-financial benefits against the costs of implementing a technology.

Can you give me an example of how this analysis is done?

Sure! For instance, if a company is considering a new software, they would calculate the costs of purchase, training, and maintenance, and compare it to the expected benefits like increased productivity and revenue.

What factors should be considered in this analysis?

Key factors include initial costs, ongoing expenses, potential savings, productivity gains, and any qualitative benefits like improved customer satisfaction.

How can I present this analysis to my team?

You can create a presentation that outlines the costs, benefits, and your recommendations, using visuals like charts to illustrate the data clearly.