More Than a Number: Unexpected Benefits of Return on Investment Analysis |
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| Authors: | Denise Pan Gabrielle Wiersma Leslie Williams Yem S Fong |
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| Institution: | 1. Technical Services, University of Colorado Denver, Auraria Library, 1100 Lawrence Street, Denver, CO 80204, USA;2. Collection Development and Assessment, University of Colorado Boulder Libraries, 1720 Pleasant Street, Boulder, CO 80309, USA;3. Acquisitions and Assessment, University of Colorado Denver, Auraria Library, 1100 Lawrence Street, Denver, CO 80204, USA;4. Collection Management, University of Colorado Anschutz Medical Campus, Health Sciences Library, 12950 E. Montview Boulevard, Aurora, CO 80045, USA;5. Scholarly Resource Development, University of Colorado Boulder Libraries, 1720 Pleasant Street, Boulder, CO 80309, USA |
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| Abstract: | In 2010–2011, University of Colorado (CU) librarians implemented a multi-campus pilot study to measure the institutional value of library resources used by faculty in their research. The study incorporated quantitative methods including return on investment (ROI), cost benefit analysis (CBA), and citation analysis of journal articles published by faculty; and qualitative methodologies such as in-person interviews with faculty. The study resulted in a CU ROI model that can be used to measure faculty perceptions of value and the economic benefits of electronic journal collections for faculty research in terms of ROI. The CU ROI methodology provides outcomes beyond a single ROI number and led to unexpected benefits for informing collection development decisions and strategies. |
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| Keywords: | Return on investment Cost benefit analysis Library value |
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