The problem of how to determine the value of a library's services and products is not a new one. Many scholars throughout the years have attempted to take an abstract concept, such as the value of information, and make it more concrete and measurable. 1,2,3,4,5,6,7 What was once often an intellectual exercise, however, now has practical urgency for librarians and for the institutions they serve. This is due both to an uncertain economic climate and to rapid advancements in information technology that call into question the traditional roles of the library, while providing opportunities for new roles. Libraries must demonstrate their value in measurable ways that are meaningful to funders and administrators. Just as importantly, measuring the value of services and products helps librarians make decisions about which best serve their users and provide the best return to both the institution and its constituents.
Value in contextThe first problem in the process of determining the value of a library is a basic one: What constitutes value and how do you measure it? Various
Measuring value and ROI of libraries Carol Tenopir et al Serials -23(3), November 2010182
Measuring value and return on investment of academic libraries
Updated from a paper presented by Carol Tenopir at the 33rd UKSG Conference, Edinburgh, April 2010The value of an academic library to its parent institution is difficult, but important, to measure. Many different methods have been used to measure value, including return on investment (ROI), contingent valuation, and other explicit and implicit measures. In a recent study we looked at the value and ROI of the library e-journal collections in the grants process in eight universities in eight countries. The results show that library-provided access to scholarly journals supports faculty productivity and that faculty members value and use electronic resources to support their research, grant and publishing activities.
CAROL TENOPIR