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Valuing the Bundles:a UW Libraries Perspective              Tim JewellDirector, Information Resources and     Scholarly Co...
2007: “From Shoeboxes to Mashups:   ERMs and Decision Support”                 Shoebox “Data Elements”                    ...
Collection Development Context                                                                                            ...
“Mashup” Data Elements• “Local” Journal Metrics   –   Cost/payment   –   Usage, Cost per use   –   ILL use   –   Faculty d...
What reports and comparisons?• Different for types of resources   – Databases   – Journals        • Journal to Journal Com...
2009 Financial Crisis and UW Libraries• UW budget cuts  – 13.5% reduction (1.5% rescission + 12% cut)  – Branch libraries ...
Complex Serials Review Process• Phase One   – Reduction targets set, subscription lists generated   – Departments contacte...
Phase One: Fund-Level Review       Using Access to Create a       Serials Decision Database  Presented at the Charleston C...
Project Steps• Gathered data (cost, use, impact  factor, package info, license terms, etc.)• Exported table, added cost pe...
Phase 2: Data for      Bundle/Package Value Review• With and without “unsubscribed” titles• Article downloads   – Cost per...
Major journal publishers and costs
Profit/Non-Profit  Journal Publisher Pricing Comparisons               (source: JournalPrices.com)                        ...
E-journal Bundling and Access1,6001,4001,2001,000                                                         Unsubscribed 800...
Bundles and Cancellation Limits$1,800,000$1,600,000$1,400,000$1,200,000                                                   ...
Bundles Being Compared• American Chemical Soc.      • Sage• American Inst. Of Physics   • Springer/Kluwer• Cambridge Univ....
Estimating E-journal Bundle Values:1• “Cost per use” example:  – UW Paid $4.4M for 2,686,489 article downloads  – Avg. CPU...
Estimating E-journal Bundle Values: 2• Estimated value as % of $ spent for “totals”  “Eigenfactor” example:  – UW Paid $4....
Trend Lines for All Metrics800.00%700.00%600.00%500.00%                                        CPU % Paid400.00%          ...
Bundle Averages: 2008                 % of Value Paid450.00%400.00%350.00%300.00%250.00%200.00%150.00%100.00% 50.00%  0.00%
Cost per Use800.00%700.00%600.00%500.00%400.00%300.00%                  CPU % Paid                         Adj CPU % Paid2...
Impact Factor, Eigenfactor & Averages800.00%700.00%600.00%500.00%400.00%300.00%                         IF % Paid         ...
Costs per UW Citation, Article, Avg.600.00%500.00%400.00%300.00%                               UW Cites % Paid200.00%     ...
Bundling Comparison ResultsMore Cost-Effective             Less Cost-Effective• University Presses            • Elsevier  ...
Selected Bundle Details800.00%700.00%600.00%500.00%                                                                       ...
Practical Implications?• Confirmed informal assessments  – Value of some bundles was high     • Retained     • Disallowed ...
Another Application:   Estimating “Add-on Collection” ValueFactor          Additional   “Avg. Cost Per”   Est. ValueImpact...
Further Questions•   Disciplinary Differences and Metrics•   Metric inter-correlations•   Replication/validation•   “Local...
Serials Assessment Comes of Age - Valuing the Bundles Jewell
Serials Assessment Comes of Age - Valuing the Bundles Jewell
Serials Assessment Comes of Age - Valuing the Bundles Jewell
Serials Assessment Comes of Age - Valuing the Bundles Jewell
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Serials Assessment Comes of Age - Valuing the Bundles Jewell

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Using data to change the conversation with subject selectors and publishers.

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Transcript of "Serials Assessment Comes of Age - Valuing the Bundles Jewell"

  1. 1. Valuing the Bundles:a UW Libraries Perspective Tim JewellDirector, Information Resources and Scholarly Communication ER&L Conference, Austin TX Feb. 2, 2010
  2. 2. 2007: “From Shoeboxes to Mashups: ERMs and Decision Support” Shoebox “Data Elements” Journal Call Number Priority (1, 2 or 3) Price Location Duplicated? Selector Fund Faculty consulted Other Selectors Consulted
  3. 3. Collection Development Context • Financial 400% 350% – Chronic budget pressure 300% – Increased importance of accountability and evidence 250% • MarketPercent Change 200% – E-journal “packages” 150% – Licensing issues 100% CPI • Cancellation limits • Long-term access/archiving 50% – Publisher consolidations 0% • Organizational -50% – the end of “rugged 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 individualism?” Serials Expenditures (+340%) CPI (+89%) Monograph Expenditures (+87%) Monograph Unit (+46%)
  4. 4. “Mashup” Data Elements• “Local” Journal Metrics – Cost/payment – Usage, Cost per use – ILL use – Faculty data (Publications, Citations, Requests, Priority judgments)• Global Metrics – Retail/list price – ISI Impact Factor – Emerging metrics (Journal Cost-effectiveness, Eigenfactor, UKSG usage factor, etc.)• Others – Fund code, selector – Package information (Publisher, cancellation limits, subscribed vs. unsubscribed, ongoing access rights, archiving via LOCKSS or Portico, etc.)
  5. 5. What reports and comparisons?• Different for types of resources – Databases – Journals • Journal to Journal Comparisons • Package Comparisons – E-books• Different levels of analysis – “Selector” or Department – “Fund Group” or Broad Area – Campus – University – Consortium• Trends?
  6. 6. 2009 Financial Crisis and UW Libraries• UW budget cuts – 13.5% reduction (1.5% rescission + 12% cut) – Branch libraries closed, staff reductions, etc. – Materials budget cuts (~20% purch. power loss)• Complex, 3-campus system serving wide range of research, teaching (biomed to int’l studies)• UW Resources Budget: 79% Serials/21% Monographs• Shift to e-access (UW @ ~55%) w/licenses
  7. 7. Complex Serials Review Process• Phase One – Reduction targets set, subscription lists generated – Departments contacted, cancellation lists identified – User input on proposed cancellations via survey• Phase Two (overlapped with end of Phase One) – Publisher negotiations via consortia – Cancellation implications for “bundles” assessed• For both, supplemental data made available: – Article downloads, cost per use – ISI Impact Factor, Eigenfactor – UW-authored publications & citations in published work
  8. 8. Phase One: Fund-Level Review Using Access to Create a Serials Decision Database Presented at the Charleston Conference, November 6, 2009 Hana Levay Information Resources Librarian University of Washington
  9. 9. Project Steps• Gathered data (cost, use, impact factor, package info, license terms, etc.)• Exported table, added cost per use column, imported back to Access• Created final table• Generated spreadsheets by fund code – .xls format – .pdf (printable) format
  10. 10. Phase 2: Data for Bundle/Package Value Review• With and without “unsubscribed” titles• Article downloads – Cost per use – “Adjusted” cost per use• ISI Impact Factor (Sciences & Social Sciences)• Eigenfactor (ditto,mostly)• UW-authored publications (ditto)• UW citations in published work (ditto)
  11. 11. Major journal publishers and costs
  12. 12. Profit/Non-Profit Journal Publisher Pricing Comparisons (source: JournalPrices.com) Non-Profit For-Profit RatioMean Journal Price $ 642.78 $ 1,837.88 2.86Mean Price per Article $ 7.98 $ 24.20 3.03Mean Price per Citation $ 12.73 $ 39.55 3.11
  13. 13. E-journal Bundling and Access1,6001,4001,2001,000 Unsubscribed 800 Subscribed 600 400 200 0 Elsevier Springer Wiley/Blackwell Sage
  14. 14. Bundles and Cancellation Limits$1,800,000$1,600,000$1,400,000$1,200,000 2008 Expenditure$1,000,000 Est. Value $800,000 Proposed Cancellations Cancel Limit $600,000 $400,000 $200,000 $- Elsevier Wiley Blackwell Springer Sage
  15. 15. Bundles Being Compared• American Chemical Soc. • Sage• American Inst. Of Physics • Springer/Kluwer• Cambridge Univ. Press • Taylor & Francis• Elsevier – No UW “bundle” purchased, so individual titles• Johns Hopkins Univ. Press can be freely cancelled (Project Muse) • University of Chicago Press• Nature, Science • Wiley/Blackwell• Oxford University Press
  16. 16. Estimating E-journal Bundle Values:1• “Cost per use” example: – UW Paid $4.4M for 2,686,489 article downloads – Avg. CPU = $1.64 – Est. value of bundle w/100K downloads = $164K• % of estimated value paid – If paid $100K, $100K/$164K = 61% (“good”) – If paid $200K, $200K/$164K = 122% (“bad”)
  17. 17. Estimating E-journal Bundle Values: 2• Estimated value as % of $ spent for “totals” “Eigenfactor” example: – UW Paid $4.4M for 63.9 “Eigenfactors” – Avg. Cost/Eigenfactor = $88,955 – Est. value of bundle w/10 “eigenfactors” = $889.5K• % of estimated value paid – If paid $500K, $500K/$889.5K = 57% (“good”) – If paid $1M, $1M/$889.5K = 113% (“not good”)
  18. 18. Trend Lines for All Metrics800.00%700.00%600.00%500.00% CPU % Paid400.00% Adj CPU % Paid300.00% IF % Paid Eigenfactor % Paid200.00% UW Cites % Paid UW Articles % Paid100.00% Avg. % Value Paid 0.00%
  19. 19. Bundle Averages: 2008 % of Value Paid450.00%400.00%350.00%300.00%250.00%200.00%150.00%100.00% 50.00% 0.00%
  20. 20. Cost per Use800.00%700.00%600.00%500.00%400.00%300.00% CPU % Paid Adj CPU % Paid200.00% Avg. % Value Paid100.00% 0.00%
  21. 21. Impact Factor, Eigenfactor & Averages800.00%700.00%600.00%500.00%400.00%300.00% IF % Paid Eigenfactor % Paid200.00% Avg. % Value Paid100.00% 0.00%
  22. 22. Costs per UW Citation, Article, Avg.600.00%500.00%400.00%300.00% UW Cites % Paid200.00% UW Articles % Paid Avg. % Value Paid100.00% 0.00%
  23. 23. Bundling Comparison ResultsMore Cost-Effective Less Cost-Effective• University Presses • Elsevier – Chicago • Wiley/Blackwell – Cambridge • Springer/Kluwer – Oxford • Sage – Johns Hopkins• Annual Reviews • Taylor & Francis – No UW “bundle”• Nature, Science purchased, so individual titles• American Chemical Soc. can be freely cancelled• American Inst. Of Physics
  24. 24. Selected Bundle Details800.00%700.00%600.00%500.00% Elsevier Science Direct Wiley400.00% Blackwell HSS Blackwell STM300.00% Springer Sage Taylor & Francis200.00%100.00% 0.00% CPU % Paid Adj CPU % Paid IF % Paid Eigenfactor % UW Cites % Paid UW Articles % Avg. % Value Paid Paid Paid
  25. 25. Practical Implications?• Confirmed informal assessments – Value of some bundles was high • Retained • Disallowed individual title cancellations – Value of others was low • Talking points with publishers • One bundle (Springer) dropped • Focus on others for future renegotiation
  26. 26. Another Application: Estimating “Add-on Collection” ValueFactor Additional “Avg. Cost Per” Est. ValueImpact Factor 500 $575 $287,500Eigenfactor 2 $68,823 $137,646UW Articles 100 $1,158 $115,800UW Citations 3,000 $39 $117,000
  27. 27. Further Questions• Disciplinary Differences and Metrics• Metric inter-correlations• Replication/validation• “Local” Eigenfactor?• Variation or Stability over time – use 5 years of data?• Construct a value index?
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