Using ROI to Support the IM Value Proposition
Information managers in all sectors are striving to create a compelling value proposition in order to preserve their funding. But it’s difficult to isolate and quantify the impact of “knowledge” on a particular outcome. When there are many factors contributing to a successful result, it is often impossible to precisely measure the influence of the information environment on that result. While a good value proposition goes well beyond simply presenting return-on-investment (ROI) data, ROI remains a fundamental component of assessing IM’s value. In this report, we update Outsell’s previous work on ROI, including our working model for calculating ROI and our ROI survey instrument that can be used to collect the necessary underlying data.
With this report, we are pleased to introduce Outsell’s new online ROI calculator tool for our clients, which makes it easy to perform the math behind the model. This report contains:
- Outsell’s philosophy of information impact assessment and ROI models;
- A discussion of data elements needed for an information management ROI analysis, and a sample survey questionnaire to help gather this data from end users;
- Details of Outsell’s methodology for calculating ROI;
- A link to Outsell’s new ROI calculator tool, which determines ROI for individual information management products or services and for the IM function as a whole, and screenshots detailing how information managers can get the most out of it;
- Imperatives for information managers to develop a compelling value proposition.