Testing a proposed ROI for academic libraries

PurposeThe return on investment (ROI) model is a tool used to measure the financial benefits and costs of an investment, in this case, the investment in digital library resources. By applying this model to the AAU digital library resources, the study seeks to determine whether these resources are providing sufficient value for the investment made in them.Design/methodology/approachThe proposed ROI model has two distinct phases and utilizes two different sets of data to calculate the return on investment for a database subscription. In Phase I, the ROI is calculated based on the total number of downloads of full-text articles from the database during the academic year 2019–2020. This information is used to determine the financial returns of the database subscription costs. In Phase II, the ROI is calculated by examining the citations drawn from the Scopus database on a sample of 30 funded research projects for the College of Engineering during the year 2019. These data are used to determine the impact of the database subscription on research output and its contribution to the success of the College of Engineering's research projects. The two phases of the proposed ROI model aim to provide a comprehensive understanding of the value of the database subscription and its impact on both financial returns and research output.FindingsThe findings of the study indicated different results between Phase 1 and Phase 2 of the study. The positive ROI in Phase 1 suggests that the investment in online databases has a good return for the AAU, as they are gaining almost a dollar for every dollar spent. However, the negative ROI in Phase 2 is concerning. It suggests that the investment in the IEEE database is not generating a positive return for the AAU and may even be costing the institution money. Overall, these findings highlight the importance of measuring ROI in academic libraries, particularly in Arab countries where resources may be limited. By understanding the impact of library investments on institutional outcomes, libraries can make informed decisions about where to allocate their resources and how to optimize their services to best serve their communities.Research limitations/implicationsThe findings of the current study were based on data collected from a specific sample, therefore, the findings may not be generalized to other academic libraries. A similar study with larger and more diverse samples can help to validate and extend the results of this study.Originality/valueThe findings of the study provide evidence that the proposed ROI model can be effectively applied in Arab countries and academic libraries in the Arab world, this could encourage more institutions in the region to adopt this model for evaluating their investments and projects. The study may also guide how to adapt the model to the specific cultural and organizational contexts of Arab countries.

PurposeThis paper aims to understand the Return on Investment (ROI) of academic libraries. It shows different aspects of returns on investment from academic libraries (ROI concept, components, calculating ROI). The study helps the academic libraries to know the efficiency, performance and achievement in terms of students, research scholars, teachers and staff should be enhanced to increase returns on library investment.Design/methodology/approachThis research paper discusses various formulas for calculating ROI from the academic library, like the general ROI formula, the concept of origin ROI's formula and models. However, the study set forth some of the limitations. The study is limited to the ROI analysis of academic Libraries. It is believed that study may be helpful to the libraries to understand the concept of return on investment to offer better library services.FindingsThe study helps understands the concept of return on investment from academic libraries and services. In times of economic crisis and budgetary constraints, Library Advocacy needs to determine the economic value of resources in institutions to assist in decision-making. This paper presents more extensive study aimed at recognizing the importance of academic libraries. The economic and social pressure to affirm the position of libraries in academic libraries depends on demonstrating their importance, especially in terms of return on investment. Though it is important to get insight into returns, it has several challenges which are outlined and discussed.Originality/valueThis research can also be useful in decision-making, library collection development and system analysis of the institutional library. ROI presents an essential parameter for increasing the ranking system of the institution. ROI is considered the most important metrics for evaluating the value of libraries is the return on investment.

The paper describes our project to develop, verify, and deploy an All-Hazards Return of Investment (ROI) model for the U. S. Army Engineer Research and Development Center (ERDC) to provide army installations with a decision support tool for evaluating strategies to make existing installation facilities more resilient. The need for increased resilience to extreme weather caused by climate change was required by U.S. code and DoD guidance, as well as an army strategic plan that stipulated an ROI model to evaluate relevant resilient strategies. During the project, the ERDC integrated the University of Arkansas designed model into a new army installation planning tool and expanded the scope to evaluate resilient options from climate to all hazards. Our methodology included research on policy, data sources, resilient options, and analytical techniques, along with stakeholder interviews and weekly meetings with installation planning tool developers. The ROI model uses standard risk analysis and engineering economics terms and analyzes potential installation hazards and resilient strategies using data in the installation planning tool. The ROI model calculates the expected net present cost without the resilient strategy, the expected net present cost with the resilient strategy, and ROI for each resilient strategy. The minimum viable product ROI model was formulated mathematically, coded in Python, verified using hazard scenarios, and provided to the ERDC for implementation.

PurposeDespite heightened interest in return on investment (ROI) and increased accountability for training professionals to prove their bottom‐line organizational value, many practitioners are deterred from comprehensive measurement and ROI evaluation due to concerns about the cost, time, and human resources necessary to fully implement the process. The purpose of this two‐part series is to present ten best practice, cost‐saving approaches for developing a credible, economical ROI strategy.Design/methodology/approachA systemic approach to measuring training's impact begins with an evaluation framework. For the purposes of this article, Jack Phillips’ five‐level framework for capturing the financial impact of training programs was referenced. Based on over 20 years of research and global applications, Phillips’ ROI model also includes techniques for isolating the impact of other variables, besides training, on performance improvement.FindingsMany organizations around the globe are using cost‐saving approaches so they can begin conducting ROI evaluation within their current budget, while others use cost‐saving approaches in order to increase the number of ROI studies they conduct. The ten cost‐saving approaches for measuring programs at the ROI level have been proven to significantly decrease resource requirements while still providing sound, credible data. Despite these factors, establishing an evaluation culture is no easy task. In many ways, implementing a system‐wide ROI effort is similar to implementing a large‐scale change initiative.Practical implicationsPractical application of these cost‐saving approaches allows the resource‐constrained training function to present their work in terms of financial benefits that leaders understand and have come to expect. It is a vital step in establishing business partnerships that will enhance commitment for training programs, products, and services going forward.Originality/valueBy evaluating training programs with the ROI in mind, training functions can be perceived in a more credible light. Programs aligned with organization strategy are offered, while others that add little value are redesigned and sometimes eliminated. Trainers, designers and developers can use the findings of an ROI evaluation to increase training alignment with business needs and to improve the efficiency of the training design, development, and delivery life cycle.

The paper describes our project to develop, verify, and deploy an All-Hazards Return of Investment model for the U.S. Army Engineer Research and Development Center to provide army installations with a decision support tool for evaluating strategies to make existing installation facilities more resilient. The need for increased resilience to extreme weather was required by U.S. code and DoD guidance, as well as an army strategic plan stipulating an ROI model to evaluate relevant resilient strategies. The ERDC integrated the University of Arkansas designed model into a new army installation planning tool and expanded the scope to evaluate resilient options from climate to all hazards. Our methodology included research on policy, data sources, resilient options, and analytical techniques, along with stakeholder interviews and weekly meetings with installation planning tool developers. The ROI model uses standard risk analysis and engineering economics terms and analyzes potential installation hazards and resilient strategies using data in the installation planning tool. The model calculates the expected net present cost without the resilient strategy, with the resilient strategy, and ROI for each. The minimum viable product ROI model was formulated mathematically, coded in Python, verified using hazard scenarios, and provided to the ERDC for implementation.

Background: Determining financial value of educational programs is an important vehicle for demonstrating accountability and responsibility to stakeholders. Several methods of estimating financial value and economic impact of educational programs have been proposed, including the throughput value model, the benefit cost ratio (BCR), and the return on investment (ROI) model. Objectives: To estimate the financial value of a bridging education program for internationally educated pharmacists seeking licensure in Canada. Methods: Three separate studies were undertaken utilizing the Throughput Value Model, the BCR and the ROI model. Results: All three models estimated positive benefits for students involved in bridging education in pharmacy. The Throughput Value Model estimated positive in each of years 1, 5 and 15, following completion of the program. The BCR model and the ROI models both estimated values of greater than 1, indicating positive financial returns from bridging education in pharmacy. Conclusions: While certain methodological limitations are inherent in estimating financial value of educational programs, all three studies were positive, highlighting the economic importance of bridging education. While financial value is one measure of success, other humanistic and social justice outcomes must also be considered when evaluating overall objectives of any educational program.

This chapter presents a business case for simulation-based mastery learning (SBML). SBML projects in medical education often yield downstream return on investment (ROI) which can be calculated using the Phillips ROI model. The Phillips ROI model first involves performing a business alignment needs assessment, determining the cost of an identified problem, and assessing how SBML can be a solution. Subsequently, the ROI model evaluates both inputs (cost) and outputs (outcomes) to ensure that institutions receive maximum effect from improvement initiatives. The chapter has four sections: (a) description of the Phillips ROI methodology, (b) an example of use of the ROI model with SBML, (c) additional examples of ROI, and (d) stakeholder engagement: convincing the C-suite. The chapter concludes with a brief coda.KeywordsMastery learningReturn on investmentSimulationStakeholder engagement

In Indonesia, a web-based business has become a natural thing, but investing using information technology are still rare. Without using a clear basis for calculation, the majority of businesses lay in Indonesia provides jugdement that the use of information technology in business is a complicated thing to do, wasting money, and not important. Therefore, it takes a special technique for assessing the investment in information technology. One of the easiest techniques is using Enhanced ROI (Return On Investment). The purpose of this research is (1) Obtaining a picture / description about the growth of the hospitality industry in Bandung, which uses e-commers. (2) Identify driving factors and obstacles in the implementation of ROI models development of the hospitality industry in Bandung, which uses e-commers. (3) Formulate a strategy to implement a development model ROI, 4) The application of the model development Enhanched ROI. (5) Trial ROI model development in the hospitality industry in Bandung, which uses e-commers. (6) Develop a ROI model in the hospitality industry in Bandung, which uses e-commers.

In this return on investment (ROI) for customer relationship management (CRM) case scenario, students must calculate the ROI for analytic CRM enabled by an enterprise data warehouse. The case is based upon a real-life consulting engagement with a major Fortune 100 telecommunications company. In this case the executive management team's strategic objective is to grow the customer base by 5 percent annually by customer acquisition. The internal rate of return calculated from the data given in the case is more than 800 percent for one year, and sensitivity analysis shows this is a robust projection, suggesting it should be funded without question. However, the strategy of the firm is customer acquisition in an environment of high customer churn. As a result of these dynamics, the revenues and net income of the firm are actually decreasing by hundreds of millions of dollars each year. A better solution would realize that the executive team has the incorrect strategic objective. Customer acquisition is the wrong approach in an environment of high customer churn and executives should focus on customer retention and cross-sell and up-sell to high-value customers. The case discussion therefore takes students beyond CRM ROI to focuses on the key strategic concepts of customer relationship management.Students learn how to calculate return on investment (ROI) for analytic customer relationship management (CRM) initiatives. The case also discusses in detail the difference between operational CRM and analytic CRM. The case solution is relatively straightforward with a very good ROI. However, the true learning of the case is for students to understand the strategic context of analytic CRM and to question assumptions in any ROI model.

More Than a Number: Unexpected Benefits of Return on Investment Analysis

ObjectiveFew, if any, return on investment (ROI) analyses of health programs make systematic considerations of patient access, instead focusing principally on gains related to cost and quality. The objective of this study was to develop an open-source model that adds an estimation of gains in patient access to a traditional ROI analysis. A classification system for quantifying gains in patient access is proposed.Materials and methodsAn Excel-based ROI model was built that not only incorporated traditional ROI considerations – cost savings and patient cases avoided – but also addressed changes in patient access. The model was then applied in a case study using New Mexico Medicaid data and two proposed initiatives – a statewide health information exchange (HIE) and a community health worker (CHW) program that focused on chronic disease patients. Savings, Health, Outreach, and Access estimates were derived from the literature. ROI estimates were produced that also incorporated relative gains in patient access.ResultsCombined, the HIE and CHW programs are predicted to generate a positive ROI by the fourth year, growing to 45% by the program’s tenth year. Total estimated cumulative cost for both programs after 10 years is $9,555,226. Total estimated cumulative saving for both programs after 10 years is $11,332,899. Access-related costs begin moderately in year 1 at $122,766 and grow to $1,858,274 by year 10. The model estimates an Access score of 19 in year 1. This figure grew to 380 by year 10.ConclusionOur model shows that a rough estimation of gains in to patient access can be incorporated to traditional ROI analyses. The results of our case study suggest that a CHW program and statewide HIE can generate a positive ROI for the state’s Medicaid program.

The return on investment (ROI) research in public health is evolving as a useful ingredient to the decision-making process, but a number of challenges exist currently. This chapter surveys these challenges. The barriers to use ROI tools are around commissioning contexts, local needs, target population and types of users. Like any other model, ROI models are not free from limitations. Methodological research for the future could look at the ways in which more accurate data around effects (health, quality of life and wider) of behaviour change could be collected. Also, more accurate modelling techniques such as the one allowing individual user-level variation may be required. Transferring a well-established ROI model to other jurisdictions or other areas of public health may save research resources.

Measuring the Return on Investment (ROI) in training and development has consistently earned a place among the critical issues in the human resource development (HRD) field. Leadership educators may soon find that program sponsors and administrators asking for ROI information as well. This paper reports the ROI of the Southern Extension Leadership Development (SELD) program as implemented at The University of Georgia. To calculate the return on investment, the ROI model proposed by Phillips (2002) was used. New extension agents hired between 1995 and 2001 who completed the probationary period with the Cooperative Extension Service formed the population for this analysis. Analysis of the data indicated that the employee turnover rate for the participant group was significantly lower than for the non-participant group. Based on the ROI model calculations, every one-dollar spent in the SELD program returned $3.86 in benefits and $2.86 (286%) in net benefits were returned on Investment.

PurposeDespite heightened interest in return‐on‐investment (ROI) and increased accountability for training professionals to prove their bottom‐line organizational value, many practitioners are deterred from comprehensive measurement and ROI evaluation due to concerns about the cost, time, and human resources necessary to fully implement the process. This article, the second in a two part series, aims to present best practice, cost savings approaches for developing a credible, economical ROI strategy.Design/methodology/approachA systemic approach to measuring training's impact begins with an evaluation framework. For purposes of this article, Phillips' (1997) five‐level framework for capturing the financial impact of training programs was referenced. Based upon over 20 years of research and global applications, Phillips' ROI model also includes techniques for isolating the impact of other variables, besides training, upon performance improvement.FindingsMany organizations around the globe are using cost‐saving approaches so they can begin conducting ROI evaluation within their current budget while others use cost‐saving approaches in order to increase the number of ROI studies they conduct. The ten cost saving approaches for measuring programs at the ROI level have been proven to significantly decrease resource requirements while still providing sound, credible data. Despite these factors, establishing an evaluation culture is no easy task. In many ways, implementing a system‐wide ROI effort is similar to implementing a large‐scale change initiative.Practical implicationsPractical application of these cost‐savings approaches allows the resource‐constrained training function to present their work in terms of financial benefits that leaders understand and have come to expect. It is a vital step in establishing business partnerships that will enhance commitment for training programs, products, and services going forward.Originality/valueBy evaluating training programs with the ROI in mind, training functions can be perceived in a more credible light. Programs aligned with organization strategy are offered, while others that add little value are redesigned and sometimes eliminated. Trainers, designers and developers can use the findings of an ROI evaluation to increase training alignment with business needs and to improve the efficiency of the training design, development, and delivery life cycle.

Guiding conservation and renewable energy development using a paired return-on-investment approach