Colleges, like corporations, spend millions each year on information technology products and services to support academic programs and administrative services. A good deal of these dollars were not part of institutional budgets not long ago. In this context, textbook economics suggest that colleges and universities should be "more productive" because technology is being used in academic programs and administrative operations. And yet, as we enter the third decade of the "technology revolution" in higher education, what's the evidence that we are more productive because students, faculty, staff, and campus officials are using more technology? The absence of consistent metrics and definitive research--comparable to the data economists use to measure productivity or pharmaceutical companies use to document the benefit of new medicines--means that we occupy an ambiguous, often impressionistic gray zone. The author concludes this description of the difficulty of measuring improvements in efficiency due to technology by proposing that the campus community initiate a program of assessment that will accurately gauge the value of technology at colleges and universities.