ERL12 – Calculating value: the nuts and bolts of implementing the University of Colorado ROI study

  • Pilot goals include measuring the impact of library collections on faculty research productivity.
  • How do collections support university goals?
  • Cost-benefit model for library collections and faculty research
  • More than just usage stats and cost-per use, which is what librarians usually look at
  • 2009 Springer and Outsell study: time saved by library users, money saved by using the library, revenue generated with help of the library
  • Defining value: use or utility (circ, downloads), financial value (ROI), commodity production, impact value, alternative comparison
  • usage stats don’t talk about why they used that resource or what they did with it
  • commodity production – e.g. articles written by faculty
  • impact value: what users are actually doing/using, and what they’re producing as a result
  • methodology: interviews, CV analysis, publication citation analysis, contingent valuation
  • faculty interviews: how do they use the library? 4 questions regarding resource usage, but interviews allow users to expand more than with just a survey – only 15-20 minutes long
  • contingent valuation: determine market price for articles – how much would it have cost to just buy that article from the publisher? – average cost per article, standard deviation for low and high cost
Doing it yourself?
  • Align project goals to mission and objectives of the library and institution — for my institution, as a college, we’re more interested in our students’ learning and whether their university transfers are successful than our faculty’s research productivity
  • Consider readily available data sources

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