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How to Determine the Value of Your Library by Joseph Matthews. A presentation sponsored by EOS International. Joe goes into detail about specific ways you can evaluate your library's. To watch the recorded version go to http://www.eosintl.com/resource-center/recorded-webinars/.
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Determining the Value of the Libraryby Joe Matthews
A Free Webinar from
• Intros (2 min)
•Determining the Value of the Library (30 min)by Joe Matthews
• How EOS.Web can contribute to the value of your library (5 min)
• Q&A
AGENDA:
Jackie PrenticeAccount Executive
Joe MatthewsLibrary Consultant, Author
Determining the Value of the Libraryby Joe Matthews
A Free Webinar from
• Perspective• Logic Model• Value• Types of Outcomes or Impact• Evaluation• Satisfaction• Actual Outcomes• What to do?
Contents:
PerspectiveDetermining the Value of the Libraryby Joe MatthewsA Free Webinar from
“More than 60% of managers
responsible for evaluating the
library and approving/justifying
library budgets do not know the
value of their library!”— Matarazzo and Prusak 1990 Lustig 2008
“The contributions of information
professionals may not be
perceived to be of high value if
results are not measured and
presented in terms that resonate
within the organization.”—Jan Sykes 2001
Logic ModelDetermining the Value of the Libraryby Joe MatthewsA Free Webinar from
Logic Model
Input Output Outcome Impact
It’s logical that:
Impact: What changed for the customer and/or the organization.
Resources Capability Utilization Impact or Outcome
Input Process Output Outcomes
Measures:
Logic ModelOrr’s Evaluation Model
The library will do ____________________
which will result is these ________________ (outputs)
so our patrons will be able to ______________ (outcomes)
as measured by ___________________
Logic Model
Value
Determining the Value of the Libraryby Joe MatthewsA Free Webinar from
Customer Criteria for Assessing Value
Customer Criterion Value Added by the Service
Ease of use Browsing, formatting, mediation service, orientation service, ordering, physical processing
Noise reduction Access (identification, subject description, subject summary), linkage, precision, selectivity
Quality Accuracy, comprehensiveness, currency, reliability, validity
Adaptability Closeness to problem, flexibility, simplicity, stimulatory
Time savings Response speed
Cost savings Savings, increased revenues, grow market share
Data
Information
Informing Knowledge
Productive Knowledge
Action
Organizing Processes
Analyzing Processes
Judgmental Processes
Decision Processes
GroupingClassifyingRelatingFormattingSignalingDisplaying
SeparatingEvaluatingValidatingComparingInterpretingSynthesizing
Presenting - Options - Advantages - Disadvantages
Matching goalsCompromisingBargainingChoosing
Value-Added Spectrum
Value
Adam Smith• Value in
exchange• Value in use
Reasons to Use a Library
• To work on a project or task
• For personal reasons
• To get an object or information or gain access to a service
Outcomes
Determining the Value of the Libraryby Joe MatthewsA Free Webinar from
What are the Outcomes?
Cognitive results:Refreshed memory of detail or facts
Substantiated knowledge or belief
Provided new knowledge
A change in viewpoint, outlook, or perspective
Ideas with a different or tangential perspective
Affective results:A sense of accomplishment, success, or
satisfaction
A sense of confidence, reliability, and trust
A sense of comfort, happiness, and good
feelings
A sense of failure
A sense of frustration
What are the Outcomes?
Meeting expectations:Be getting what they needed, sought, or
expected
Be getting too much
Be getting nothing
Have confidence in what they have received
Receive more than they expected
Seek substitute sources
What are the Outcomes?
Accomplishments:Able to make better informed decisions
Achieve a higher quality performance
Able to point to a course of action
Proceeding to the next step
Discovering sources of information or knowledge
people
Improving a policy, procedure, or plan
What are the Outcomes?
Time aspects:Save time as a result of using the library
Experience a service delay in the library
Need time to assimilate the information
What are the Outcomes?
Money aspects:Estimate of the $ value of the information obtain or
service received
Estimate of the amount of money saved
Estimate of the cost of using the service (to the customer)
Estimate of what may be spent on a substitute service
Estimate of value lost were the service not available
What are the Outcomes?
Evaluation
Determining the Value of the Libraryby Joe MatthewsA Free Webinar from
Resources Capability Utilization Impact or Outcome
Input Process Output Outcomes
Measures:
Orr’s Evaluation Model
Performance Measures
Input Process Output Outcomes
Budget
Staffing
Collection
Technology
Space
Time Per
Cost Per
Counts Individual
Organization
Satisfaction•Neither an output nor an outcome
•Purpose of a survey:oEvaluate the effectiveness of library services
oTo what degree are client needs met
oIdentify ways to improve services
•Challenges: sample size, distribution
Performance & Priority EvaluationDetermining the Value of the Libraryby Joe MatthewsA Free Webinar from
Survey• Did we meet your information
need?
• Would you like us to do
additional work on this, or set
up an alert?
• How was this information useful
to you?
Actual OutcomesDetermining the Value of the Libraryby Joe MatthewsA Free Webinar from
Outcomes
Duplication of Research
John Martyn. Unintentional Duplication of Research. New Scientist, 377, 1964, p. 338.
– 647 British scientists – 22% of researchers had missed relevant information that would have saved time, money, or work.
– £640 million spent on R&D—about £140 million wasted on duplicated research
Duplication of Patents
• European Patent Office – Estimates the cost of duplicate research
to be €20 billion a year in Europe alone – 30% of all R&D expenditures wasted on duplicating existing inventions
• Finnish National Board of Patents and Registration– 33% of patent applications were
submitted for already existing patents
“… a significant and growing number
of very expensive lawsuits occur each
year because firms have invested
millions of dollars on the research,
development, and commercialization
of technology that is legally owned by
others.“—James Bessen and Michael Meuer
IT professionals spend 2 hours a day searching the Web for information – and that information is frequently wrong or incomplete.
Consequences:• Component of the IT network fails to work• Bugs introduced into software• Time wasted• Need to re-do projects
Money• Jose Marie Griffiths & Don King– Time & effort to find information with and
without a library per professional staff member per year
– $29,235 versus $43,350 (with no library)– Difference of $14,115– If 100 professionals, saving of $141,150
per year– Conservative estimate
Cost Benefit Analysis
• Identify the value of the benefits identified by users in a survey
• Total the total value of the benefits
• Compare to the library’s total budget
• Result is a cost-benefit analysis – sometimes called a Return on Investment (ROI)
Cost Benefit Analysis
• Leigh Estabrook 1986 2:1 to 48:1• Helen Manning 1987 5:1• Michael Koenig 1992 2.5:1 to 26:1• Griffiths & King 1993 17:1 to 26:1• Portugal 2000 54:1• Stratus Consulting 2004 2:1 to 5.7:1• Chung 2007 2.97:1• Aaron 2009 18.6:1
An “after the fact” metric
Accomplishments
Health Care Outcomes:• Change in diagnosis• Change in choice of
treatment• Change/avoid
tests/procedures• Reduced length of hospital
stay• Improved quality of life for
patient or family• Improved confidence in
decision-making
Accomplishments
Banking Outcomes:• Decide on a course of
action• Proceed on the next steps
of a project• Detect new business
opportunities• Saving time• Help evaluate risk of loans
Accomplishments
Government Outcomes:• Improve a plan, procedure,
or policy• Meet a deadline• Reduce conflict with the
agency
Accomplishments
More productive companies:• Greater openness to
information• Greater use of information• Greater skill &
sophistication among library staff members
• Unobtrusive R&D managerial structures
What To Do
Determining the Value of the Libraryby Joe MatthewsA Free Webinar from
What to do?• Simply choosing to measure
value and to adopt a value-
oriented mindset lays the
ground work for library success
• The most important question to
answer: How much good does
the library do?
What to do?1. Determine the kind to measures and
stories that will resonate with your
organization’s management
2. Send out a (email) survey 2-3 days
after each contact to ask for
feedback and an estimate of the
value of services received
3. Engage clients in conversations
about the impact of the library (keep
track of these)
Communicating the Value of the Libraryby Joe Matthews
NEXT WEBINAR: 10/23/13 @ 10a PT / 1p ET
• Alignment• What Will Resonate?• How to Structure the Message• Communication Options• Messages That Soar!
Go to: EOSIntl.com/events to register
Available now:
The Bottom Line—Determining and Communicating the Value of the Special LibraryBy Joseph R. Matthews
Buy Today!
Available on EOSIntl.com
The Digital Library Survival GuideBy Joseph R. Matthews
Download Today!
Communicating the Value of the Libraryby Joe Matthews
NEXT WEBINAR: 10/23/13 @ 10a PT / 1p ET
• Alignment• What Will Resonate?• How to Structure the Message• Communication Options• Messages That Soar!
Go to: EOSIntl.com/events to register
