How to set commands output as a variable in a batch file

Question

Is it possible to set a statement\'s output of a batch file to a variable, for example:

findstr testing > %VARIABLE%

echo %VARIABLE%

Answer 1

cd %windir%\system32\inetsrv

@echo off

for /F "tokens=* USEBACKQ" %%x in (      
        `appcmd list apppool /text:name`
       ) do (
            echo|set /p=  "%%x - " /text:name & appcmd.exe list apppool "%%x" /text:processModel.identityType
       )

echo %date% & echo %time%

pause