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/.

1. Determining the
Value of the Library
byJoeMatthews
A Free Webinar from

2. • Intros (2 min)
• Determining the
Value of the Library (30 min)
byJoeMatthews
• How EOS.Web can contribute to the
value of your library (5 min)
• Q&A
AGENDA:

3. Jackie Prentice
AccountExecutive

4. Joe Matthews
LibraryConsultant,Author

5. Determining the
Value of the Library
byJoeMatthews
A Free Webinar from

6. • Perspective
• Logic Model
• Value
• Types of Outcomes or Impact
• Evaluation
• Satisfaction
• Actual Outcomes
• What to do?
Contents:

7. Perspective
Determining the
Value of the Library
byJoeMatthews
A Free Webinar from

8. ―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

9. ―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

10. Logic Model
Determining the
Value of the Library
byJoeMatthews
A Free Webinar from

11. Logic Model
Input Output Outcome Impact
It’s logical that:
Impact: What
changed for the
customer and/or
the organization.

12. Resources Capability Utilization Impact or
Outcome
Input Process Output Outcomes
Measures:
Logic Model
Orr’sEvaluationModel

13. The library will do ____________________
which will result is these ________________ (outputs)
so our patrons will be able to ______________ (outcomes)
as measured by ___________________
Logic Model

14. Value
Determining the
Value of the Library
byJoeMatthews
A Free Webinar from

15. 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

16. Data
Information
Informing Knowledge
Productive Knowledge
Action
Organizing
Processes
Analyzing
Processes
Judgmental
Processes
Decision
Processes
Grouping
Classifying
Relating
Formatting
Signaling
Displaying
Separating
Evaluating
Validating
Comparing
Interpreting
Synthesizing
Presenting
- Options
- Advantages
- Disadvantages
Matching goals
Compromising
Bargaining
Choosing
Value-Added Spectrum

18. Value
AdamSmith
• Value in exchange
• Value in use

19. 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

20. Outcomes
Determining the
Value of the Library
byJoeMatthews
A Free Webinar from

21. What are the Outcomes?
Cognitiveresults:
 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

22. Affectiveresults:
 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?

23. Meetingexpectations:
 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?

24. 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?

25. Timeaspects:
 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?

26. Moneyaspects:
 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?

27. Evaluation
Determining the
Value of the Library
byJoeMatthews
A Free Webinar from

28. Resources Capability Utilization Impact or
Outcome
Input Process Output Outcomes
Measures:
Orr’s Evaluation Model

29. Performance Measures
Input Process Output Outcomes
Budget
Staffing
Collection
Technology
Space
Time Per
Cost Per
Counts Individual
Organization

30. Satisfaction
• Neither an output nor an outcome
• Purpose of a survey:
o Evaluate the effectiveness of library services
o To what degree are client needs met
o Identify ways to improve services
• Challenges: sample size, distribution

31. Performance &
Priority Evaluation
Determining the
Value of the Library
byJoeMatthews
A Free Webinar from

34. 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?

35. Actual Outcomes
Determining the
Value of the Library
byJoeMatthews
A Free Webinar from

36. Outcomes

37. 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

38. 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

39. ―… 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

40. ITprofessionalsspend2hoursaday
searchingtheWebforinformation–andthat
informationisfrequentlywrongor
incomplete.
Consequences:
• Component of the IT network fails to work
• Bugs introduced into software
• Time wasted
• Need to re-do projects

41. 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

42. 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)

43. 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

44. Accomplishments
HealthCareOutcomes:
• 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

45. Accomplishments
BankingOutcomes:
• 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

46. Accomplishments
GovernmentOutcomes:
• Improve a plan, procedure, or
policy
• Meet a deadline
• Reduce conflict with the agency

47. Accomplishments
Moreproductivecompanies:
• Greater openness to
information
• Greater use of information
• Greater skill & sophistication
among library staff members
• Unobtrusive R&D managerial
structures

48. What To Do
Determining the
Value of the Library
byJoeMatthews
A Free Webinar from

49. 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?

50. 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)

51. Communicating the
Value of the Library
byJoeMatthews
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

52. Available now:
TheBottomLine—
Determiningand
CommunicatingtheValueof
theSpecialLibrary
By Joseph R. Matthews
BuyToday!

53. Available on EOSIntl.com
The Digital Library
Survival Guide
By Joseph R. Matthews
Download Today!

54. Communicating the
Value of the Library
by 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