What Have You Done For What Have You Done For Me Lately? Me Lately?

How Information How Information Professionals Determine Professionals Determine

Their ROI.Their ROI.A Leadership and Management A Leadership and Management

Division ProgramDivision Program

The Panelists:The Panelists:

Judy Field, Senior Lecturer, Wayne State Judy Field, Senior Lecturer, Wayne State University also serving as the ModeratorUniversity also serving as the Moderator

The Panelists:The Panelists:

Judy Field, Senior Lecturer, Wayne State Judy Field, Senior Lecturer, Wayne State University also serving as the ModeratorUniversity also serving as the Moderator

Marilyn Bromley, Library Director, Bureau of Marilyn Bromley, Library Director, Bureau of National AffairsNational Affairs

The Panelists:The Panelists:

Judy Field, Senior Lecturer, Wayne State Judy Field, Senior Lecturer, Wayne State University also serving as the ModeratorUniversity also serving as the Moderator

Marilyn Bromley, Library Director, Bureau of Marilyn Bromley, Library Director, Bureau of National AffairsNational Affairs

Anne Caputo, Director of Factiva’s Anne Caputo, Director of Factiva’s Knowledge & Learning ProgramsKnowledge & Learning Programs

The Panelists:The Panelists:

Judy Field, Senior Lecturer, Wayne State University Judy Field, Senior Lecturer, Wayne State University also serving as the Moderatoralso serving as the Moderator

Marilyn Bromley, Library Director, Bureau of Marilyn Bromley, Library Director, Bureau of National AffairsNational Affairs

Anne Caputo, Director of Factiva’s Knowledge & Anne Caputo, Director of Factiva’s Knowledge & Learning ProgramsLearning Programs

Jude Hayes, Manager of a team of Information Jude Hayes, Manager of a team of Information Professional Consultants, LexisNexisProfessional Consultants, LexisNexis

What is ROI?What is ROI?

A business term meaning A business term meaning Return on InvestmentReturn on Investment One of the many ratios used to either determine worth One of the many ratios used to either determine worth

or to show an organization’s profitabilityor to show an organization’s profitability In Accounting:It is the In Accounting:It is the Fiscal Year Income Fiscal Year Income divided by divided by

Amount of Common Stock and Preferred Stock Equity Amount of Common Stock and Preferred Stock Equity plus any Long-term Debtplus any Long-term Debt

It is often used for cost justification purposes It is often used for cost justification purposes for all units within an organization especially for all units within an organization especially when budgets are being prepared or when budgets are being prepared or restructuring is being consideredrestructuring is being considered

It is a “Dollar and Cents” approach to It is a “Dollar and Cents” approach to analyzing the organization’s bottom lineanalyzing the organization’s bottom line

What does this mean for us?What does this mean for us?

Most information centers are not direct Most information centers are not direct revenue generating units though some do- zero revenue generating units though some do- zero based budgetingbased budgeting

Yet we have salaries and expensesYet we have salaries and expenses We do not produce a saleable productWe do not produce a saleable product Yet our research permits others to produce Yet our research permits others to produce

products or to make effective decisionsproducts or to make effective decisions

Our Task ?Our Task ?

Is to validate the contributions of our research Is to validate the contributions of our research in the decision making processes that occur in the decision making processes that occur across the organization. across the organization.

How?How?

Initial strategies are to be sure you understand Initial strategies are to be sure you understand your organization’s corporate culture by your organization’s corporate culture by studyingstudying The organization’s The organization’s Mission StatementMission Statement The organization’s The organization’s Vision StatementVision Statement The organization’s current The organization’s current Strategic InitiativesStrategic Initiatives

ThenThen

Realign your Realign your Mission StatementMission Statement Vision StatementVision Statement Strategic InitiativesStrategic Initiatives

Develop a suite of services that target those Develop a suite of services that target those initiatives and goalsinitiatives and goals

PromotePromote

Services not technologyServices not technology Make value statements of these services that Make value statements of these services that

are relevant to your organizationare relevant to your organizationi.e.i.e. Assist in preventing deathsAssist in preventing deaths Minimizing surgeriesMinimizing surgeries Reducing hospital staysReducing hospital stays

ShowShow

That what you provideThat what you provide Meets high standards of quality and reliability Meets high standards of quality and reliability Has cognitive valueHas cognitive value Aids in decision makingAids in decision making

Provide BenchmarksProvide Benchmarks Implementation of Best PracticesImplementation of Best Practices Do Information AuditsDo Information Audits

SHOWSHOW

That you are excel at communicationsThat you are excel at communications Informative and easy to use web sitesInformative and easy to use web sites Targeted newslettersTargeted newsletters Anticipate information needs and deliver executive Anticipate information needs and deliver executive

summariessummaries You learn about your organization by walking You learn about your organization by walking

aroundaround

SeekSeek

To find relevant services that you can provideTo find relevant services that you can provide Records management centerRecords management center Copier centerCopier center ArchivesArchives Centralized source for ordering books, serials and Centralized source for ordering books, serials and

other information resources.other information resources.

Examples?Examples?

It is time to hear from our team of expertsIt is time to hear from our team of experts