Refers to practical advantages, usefulness, or gains, often in economic or everyday contexts. Slightly formal.
This new system brings great benefits to users.
公共事業の便益を評価する。
Evaluate the benefits of the public project.
cost-benefit ratio
cost-benefit analysis
Compound of 便 (convenience) and 益 (benefit). The exact historical derivation is uncertain, but the spelling is conventionally associated with the meaning.