A web-tool for calculating the economic performance of precision agriculture technology

•A new web-based tool for the cost-benefit analysis of precision farming technologies is described.•The tool provides guidance for farmers on decisions to invest in new precision farming technology.•The tool is characterized by open access and high adaptability. To develop precision agriculture (PA) to its full potential and make agriculture progress toward sustainability and resilience, appropriate criteria for the economic assessment are recognised as being one of the most significant issues requiring urgent and ongoing attention. In this work, we develop a web-tool supporting the assessment of the net economic benefits of integrating precision farming technologies in different contexts. The methodological approach of the tool is accessible to any agricultural stakeholder through a guided process that allows to evaluate and compare precision agriculture technologies with conventional systems, leading the final user to assess the financial viability and environmental impact resulting from the potential implementation of various precision agriculture technologies in his farm. The web-tool is designed to provide guidelines for farmers over their decisions to invest in selected PA technologies, by increasing the knowledge level about novel technologies characteristics and the related benefits. Possible input reduction also offers the possibility to investigate the mitigation of environmental impacts.