How to Measure the ROI of Technological Investments?
Measuring the return on investment (ROI) for technological expenditures involves evaluating both tangible and intangible benefits. Tangible benefits include cost savings, increased revenue, and improved productivity. Intangible benefits might involve enhanced employee satisfaction and better customer experiences. Using KPIs (Key Performance Indicators) like operational efficiency, customer retention rates, and profit margins, businesses can assess the effectiveness of their technological investments.