Silver Oxide (SR) and Alkaline batteries (LR) are commonly used in watches, clocks, timers, calculators, laser pointers, toys, and LED "blinkies". Batteries that meet the IEC 60086-3 standards for watch batteries carry a "W" suffix. The functional differences between silver oxide and alkaline are:
Silver oxide batteries have a 50% - 100% greater capacity, meaning they last up to twice as long as alkaline batteries.
Silver oxide has a relatively slow declining voltage during discharge compared to alkaline, which is preferable for light meters used in cameras and digital calipers. Silver oxide provides 1.55 volts, while alkaline provides 1.5 volts.
Silver oxide batteries have superior leakage resistance, meaning they're more corrosion resistant.