Abstract
With the economic downturn, libraries need to show a return on investment on each dollar they receive, especially within the collection development budget. Library's collection development decisions for e-journal and e-book purchases need to be based on detailed analytics, for example, review of usage statistics reports and cost-per-use calculations. The process of gathering statistics from dozens of supplier platforms and then creating custom cost-per-use reports is manual and time consuming. Additionally, in corporate library settings, ad-hoc reporting, historical trending bears significance. At the end of 2010, the Library acquired a product to be implemented in 2011. The benefit of the new product was that it could "gather stats" automatically. Additionally, the Library staff did its own customization and imported historical data for creating trending reports for budget analysis and uploaded cost and usage data for e-books.
The presenters will discuss the importance of libraries showing ROI and how the library creatively put together a product they needed in order to prove its value to its financial and upper-management teams. The presenters would also like to open a discussion of how other libraries are showing their return on investment.
Please note: While Ms. Markovic was not able to attend the conference her analytical results were instrumental to the outcome of the study.
The Buck Stops Here: The Importance of ROI and How to Demonstrate Value in a Corporate Library Setting
With the economic downturn, libraries need to show a return on investment on each dollar they receive, especially within the collection development budget. Library's collection development decisions for e-journal and e-book purchases need to be based on detailed analytics, for example, review of usage statistics reports and cost-per-use calculations. The process of gathering statistics from dozens of supplier platforms and then creating custom cost-per-use reports is manual and time consuming. Additionally, in corporate library settings, ad-hoc reporting, historical trending bears significance. At the end of 2010, the Library acquired a product to be implemented in 2011. The benefit of the new product was that it could "gather stats" automatically. Additionally, the Library staff did its own customization and imported historical data for creating trending reports for budget analysis and uploaded cost and usage data for e-books.
The presenters will discuss the importance of libraries showing ROI and how the library creatively put together a product they needed in order to prove its value to its financial and upper-management teams. The presenters would also like to open a discussion of how other libraries are showing their return on investment.
Please note: While Ms. Markovic was not able to attend the conference her analytical results were instrumental to the outcome of the study.