The positive effect that customers perceive a service can have on their business outcomes is referred to as what?

ITIL defines utility as 'fit for purpose,' meaning the functionality a service offers to meet a specific customer need. It directly represents the positive effect a customer perceives a service can have on their business outcomes, which is exactly what the question describes. Utility answers the question: does the service do what the customer needs it to do?

Warranty refers to 'fit for use' - assurance that a service meets agreed availability, capacity, and security levels - not the positive functional effect on business outcomes.

Economic value is not a formally defined ITIL term for this concept; it conflates a financial measurement with the functional benefit described by utility.

Return on investment is a financial metric used to evaluate profitability of an investment and is not the ITIL term for the perceived positive effect of a service's functionality.