measuring value and roi of academic libraries: the imls lib-value project carol tenopir university...
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Measuring Value and ROI of Academic Libraries:The IMLS Lib-Value Project
Carol TenopirUniversity of Tennessee
Charleston2011
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Multiple institutions using multiple methods to measure multiple values for multiple stakeholders
LIB-VALUE:
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Ebooks Special Collections
Information Commons
Journal Collections All Services Teaching and
Learning
Reading and Scholarship Building Tools
Website and Value
Bibliography
Measuring value
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Return on investment in a strict sense…
…is a quantitative measure expressed as a ratio of the value returned to the institution for each monetary
unit invested in the library. For every $/€/£ spent on the library,
the university received ‘X’ $/€/£ in return.
Demonstrate that library collections contribute to income-generating activities
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Return on investment is also……values of all types that come to stakeholders
and the institution from the library’s collections, services, and contribution to its
communities.
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1.purchase or exchange value: what one is willing to pay for information in money and/or time, and
2. use value: the favorable consequences derived from reading and using the information.
In the information context economist Machlup described 2 types of value:
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Lib-Value Comprehensive Library Value Study (Bruce Kingma)
• Economic (private)– What is the value to an individual to use the library
resources?
• Social (public)– What is the value to the institution of the library?
• Environmental (externality)– What is the value of the environmental savings of library
provision of electronic resources? – Have libraries gone green without knowing it?
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Readings for work related purposes
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Average readings per month:U.K. faculty, 2011
Article Book Other Publication0
5
10
15
20
25
30
25
8
11
n=2117, June 9 2011, 6 UK universities
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Library Subscrip-tion
Free Web Journal, Website
Dept. or Personal Subscription
Colleague's Copy Other0
10
20
30
40
50
60
70
80
90
100
65
149 6 6
n=1189, June 9, 2011, 6 U.K universities
Perc
ent
Source of article readings
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Where did you read this last article? (Articles from library only)
Office, Lab62%
Home26%
Travelling10% Library
2%
n=764, June 9, 2011, 6 U.K universities
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Preliminary faculty survey results
ActivityAverage last 30
days% of
respondents Physical Visits 2.9 visits 73%Remote Visits 14.2 visits 88%
Average Total Resources Used: in-person visit to the library 7.3 uses 80%
remotely online 14.9 uses 89%
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Electronic72%
Print28%
US, 2005
Use of library collections for articles
Elec-tronic93%
Print7%
UK, 2011
n=775
June 9, 2011, 6 U.K universities
n=562
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Outcomes of journal article reading2004-06 2011
1st Inspire new thinking or ideas 55% 54%
2nd Improve results 40% 38%
3rd Narrow/broaden/change the focus 27% 28%
4th Resolve technical problems 12% 10%
5th Save time or other resources 12% 10%
6th Aid in faster completion 7% 5%
7th Assist or result in collaboration/joint research
6% 4%
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Portrait of a successful faculty member…
”•Publishes more •Wins awards•Reads more•Reads more from the library•For every article cited, reads 27-40 additional articles
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More details and searchable Lib-Value bibliographic database available on the
project website:
http://libvalue.cci.utk.edu