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Why are rotary encoders so cool?

Unlike a variable resistor/potentiometer they have infinite travel in any direction and because they produce a digital "Gray code" you can scale their readings to whatever range you like.
The dual direction makes them useful for increasing or decreasing a value within a variable or navigating menus.
Finally, many of these rotary encoders come with a centre push button, which can be used to select menu items, reset a counter or do anything you can think of that might suit a momentary push button.

Specifications:
Rotary Shaft Length: Approx. 12mm
Shaft Overall Length: Approx. 20mm
Shaft Diameter: Approx. 6mm
Dimension (LxW): Approx. 15x12mm
Rated voltage: DC 5V
Max. rated current (Impedance load): Each phase conductor: 0.5mA, Min. 0.5mA
General conductor: 1mA (MAX. 10mA, MIN. 0.5mA)
Position: 20
Pulse: 20
360-degree rotation
Rotational life: Min. 50000 cycles
Switch life: Min. 20000 cycles

Package Included:
5 x 360 Degree Rotary Encoder Code Switch Digital Potentiometer with Switch
5 x Knob Cap