value of library services a presentation to the joint chapter professional development day by joe...
TRANSCRIPT
Value of Library ServicesA presentation to the
Joint Chapter
Professional
Development Day
by Joe Matthews
Overview
Outward FocusEffectiveness
Are we doing the right thing?
The focus is on the library & its impact on its parent organization
Inward Focus Efficiency
Are we doing things right?
Pricing
Econometric
Activity-basedCosting Strategic
approaches, e.g., Parker
InfoMape.g., Burk &
Horton
Priority & Performance Evaluation,
e.g., Broadbent
Cost-BenefitAnalysis
Decisionanalysis
Sector
Organization
System/Service
Individual
Situation specific Situation Generic
The value of information
Cost/Benefit Analysis
Maximize benefits for a given cost
Minimize costs for a given level of benefits
Maximize the ratio of benefits over costs
Maximize the net benefits (Present value of
benefits over present value of costs)
Maximize the internal rate of return (ROI)
FavoriteDefinition of a
Library Catalog
Library’s Catalog
The value of a library is found in its collection & services provided by staff
The library’s catalog is a finding aid to information resources located within the library & elsewhere
The bibliographic record is the surrogate of the “real thing”
Information Package
Each book or other information resource,
e.g., audio or videotape, map, manuscript,
microform, etc., contained within a
library’s collection or an electronic
resource located outside the library
How Add Value to Information?
Organizing– Grouping– Classifying– Relating– Formatting– Displaying
Analyzing– Separating– Evaluating– Validating– Comparing– Interpreting– Synthesizing
Adding Value (Continued)
Judgmental– Presenting Options– Presenting advantages
& disadvantages
Attributes of a MARC record
Ease of Use
Noise Reduction
Quality
Provides a structure
Authority control
Consistency checks
Attributes of a MARC record
Adaptability
Time Savings
Cost Savings
Flexibility in data display
Import MARC records
Variety of sources
Value of a Library’s Collection
Cost of $50 to purchase and catalog each title
times Number of titles in collection, e.g., 50,000
= Value of the library’s collection or
$2,500,000
Value of a Library’s Catalog
Total cost of cataloging =[(Cost of shared cataloging * % shared) +
staff costs for shared cataloging] +
Cost of original cataloging (% needing original cat. * staff costs to do original cat.)
Example
Adding 1,100 titles
[$1.75 *(95.5% * 1,100) or $1,838 +
($20/title * 1,050) or $21,000 = $22,838
+
original cataloging (50 titles * $50 per title)
or $2,500
Total Cost of Cataloging = $25,338
or $23.03 per title record
Collection ROI
Collection value = $2,500,000 Annual circulation = 150,000
ROI Analysis
(150,000 * $23.03/record) / $2,500,000
or Collection ROI = 14 cents per circulation
If circ. goes up, Collection ROI also goes up
Enhanced MARC Records
Cost per record = $1, 40% match 10% increase in collection utilization 50,000 titles * 40% = 20,000 titles
ROI Analysis
$2,500,000 collection value * 10% = $250,000
$250,000 / 20,000 enhanced records
value = $12.50 per enhanced MARC record
Authority Records
50,000 authority records 10% increase in collection utilization
ROI Analysis
$2,500,000 collection value * 10% or
$250,000 / 50,000 authority records or
value = $5.00 per record
Additional Indexes
Collection value = $2,500,000 10% increase in collection utilization
ROI Analysis
$2,500,000 * 10% or
Value of additional index = $250,000
Value of Location & StatusInformation for a Firm
Value for a professional = $120/hour Time spent making a trip to the
library = 15 min.
Online access means reduced trips
# trips per day reduced x value of prof. = value of increased productive time of prof.
50 trips/day x 15 min x $2/min = $1,500
Location & Status Information
Save $1,500 / day or $390,000 / year
ROI Analysis
$390,000 / 50,000 volumes or value of
location & status information =
$7.80 per volume
Location & Status Information
Annual circulation of 50,000 items Manual circ. system experiences a 3% loss
or 1,500 items per year Automated circ. System has 1/2 of 1% losses
or 250 items per year
ROI Analysis
1,250 items not lost x $50 = $62,500
$62,500/50,000 = $1.25 per item
Value for an Individual
The library’s bibliographic records typically have little direct value for an individual.
Difficult to assign value for these records even if used by an individual.
Improving the Catalog
Clean up your database
Use authority control records
Review frequency of subject headings
Add enhanced MARC records
Dirty Database Test
Febuary
Guatamala
Misssion
Goverment
Fransisco
Grammer
Recieve
Wensday
Seperate
Conditons
Source: Jeffrey Beall, American Libraries
ENHANCED MARC Records
Source: Peis & Fernandez-Molina, ITAL, Sept, 1998
Communication
Measuring the value of information
or the value of library services
is a “hollow” activity
unless effective communication
with decision makers is taking place