Cost benefit analysis, shortened as CBA, is a process to evaluate the feasibility of projects. Factors such as the costs of acquiring products, paying for labour or services are weighed up against the benefits in coming to a decision.
For example…
If you wanted to purchase the latest and greatest in tablets to provide all your on-site consultants of your window shade company, you would want to do a cost benefit analysis first. How will the new tablet and technology it brings aid the sales process? Will the cost of purchasing the tablets, training staff, deploying required information on them be worthwhile in return for a possibly smoother sales consultation?
