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Home » Newsroom » Blog
Blog
May 21, 2024

Using Financial Metrics, Libraries Can Demonstrate Their Value in the Research Enterprise

EducationLibrary ServicesResearchThought Leadership
Illustration of a desk with bookshelves on either side

Libraries can gain new resources to support the worthy goal of the Nelson Memo by using new financial metrics to demonstrate their value in the research enterprise.

The 2022 OSTP public access memo, also known as the Nelson Memo, accelerated the open scholarship work research libraries have conducted for decades. 

With this memo, U.S. federal agencies are directed to develop plans for ensuring “free, immediate, and equitable access” to federally funded research and its underlying data. The library and scholarly communications community has the drive and expertise to make federally sponsored research more accessible but continues to be challenged by enough resources to do so.

Providing free, immediate, and equitable access to federally funded research publications and the underlying data promotes transparency and allows other researchers to examine results, replicate studies, and verify data, strengthening the integrity and reliability of scientific research. Wide and equitable access to research findings allows the public and scientists alike to stay up to date with the latest scientific discoveries and developments. Scientists from around the world, including those from less-resourced institutions, can contribute to and benefit from global scientific knowledge. This can lead to more diverse perspectives in research and foster collaborations that tackle our global problems.

Libraries have and continue to support the goals of open scholarship by:

  • Providing publication and data infrastructure, such as digital repositories that host and disseminate open-access publications and data.
  • Working with researchers to develop data management plans and use appropriate metadata standards to make data accessible, usable, and interoperable.
  • Educating and guiding researchers about open access policies, compliance requirements, and best data sharing and management practices.
  • Creating curated collections and discovery tools, facilitating access to research for the public, students, educators, and independent researchers.

Although federal research funding to universities is substantial, there has been little budget increase for libraries responsible for making this research widely accessible. To receive resources to advance and address the worthy goals of the Nelson Memo, libraries will benefit from employing new financial metrics and language to demonstrate the value of libraries in the research enterprise. To better communicate the value of libraries in the research ecosystem, libraries can present their impact in measurable financial terms. This can be done by collecting and analyzing data on how libraries contribute to sponsored research and linking this information to library expenses.

At Attain Partners, our Library Cost Study demonstrates a library’s financial support of the university’s research enterprise.

Learn more on this topic in this Scholarly Kitchen post.

About the Author

Hilary A. Craiglow leads our team of library strategists to strengthen library systems using proven evaluation and assessment methods. With a 30+ year career in libraries, Hilary brings a deep understanding of college and university systems, and extensive experience leading academic libraries. She is a strategic and visionary administrator, melding rich library traditions with innovative services and assessments. A data and mission-driven leader, she creates organizational transformation through empathy and partnership. Hilary helps library leaders achieve their mission faster, more efficiently, and with greater impact.

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