1 Outsell’s Information Management Survey: An Update London Info International 25 November 2014 Jim Hydock VP & Practice Leader Outsell, Inc. 2 Agenda Industry Update Key IM Benchmarks and the State of IM Next Steps About Outsell The Information Industry 5 A Story 6 Information Industry Ecosystems Yellow Pages & Directories $21.7 B2B Trade $30.6 Market Research, Reports & Services $41.2 News $78.3 Consumer Books & Magazines $82.9 Marketing Services $113.2 $738 Billion Search, Aggregation & Syndication $86.9 Scientific, Technical & Medical $32.5 Marketing Analytics, Automation & CRM $23.4 Credit & Financial $52.8 Education Content, Technology & HCM $111.4 Legal & Regulatory $20.4 Governance, Risk & Compliance $43.0 7 Vendors – Key Issues 8 Libraries – Key Issues 9 Information Management: 2014 Trends that Matter 1. 2. 3. Managing the Migration to Digital Moving Beyond Usage Statistics Moving Toward a DIY Model THE GLOBAL LIBRARY MARKET $24.8B Content budgets are split 66/34 between digital and print, and this is growing in favor of digital. Digital Print INFO MANAGERS’ TOP AREAS OF INVESTMENT 10 Library Budgets Outsell’s Information Management Survey: An Update 12 Outsell’s Annual IM Benchmarking Survey Focus on budgets, staffing, content, and vendors Listservs, SLA, FedLink, Charleston Group, etc. In progress through November 14, 2014 ~225 responses so far Currently directional in nature Confidence level of 95% +/- 5% at the total level. Library types with lower numbers of respondents have confidence levels of +/-7% Fact-based perspectives and opinions 13 Survey Respondents by Library Type For-Profit Companies or Organizations 9% 5% Non-Profit Companies or Organizations 39% Government Educational Institution 31% Healthcare 8% 8% Public Library Budgets and Investments 2015 Budgets by Library Type 16 Budget Categories All Libraries Personnel FTEs - Librarians and Researchers 8% 8% Personnel - Contractors 30% Personnel - Outsourcing Training and Development 3% 46% 2% 3% Content - Primary and Secondary IT or Library Systems and Software Other 17 Top 5 Areas for Investment in FY15 Online Databases e-Books e-Journals Discovery Services Analytics and Data 0% 10% 20% 30% 40% 18 How Would You Allocate 10% of Extra Budget? All Libraries Personnel FTEs - Librarians and Researchers 6% 16% Personnel - Contractors 28% Personnel - Outsourcing Training and Development 4% 34% 10% Content - Primary and Secondary 2% IT or Library Systems and Software Other Staffing 20 Percent of Time Spent on Activities 21 Technologies Used 22 Top 5 Skill Gaps Big Data Analytics Usage Statistics and ROI/Value Analysis External Content Integration Visualization Tools Knowledge Management 0% 10% 20% 30% 40% 50% Content 24 Digital by Library Type Non-Profit Public Library Healthcare Government Education Corporate All 0% 50% 100% 25 % of Budget to Content Areas Scientific & Technical Information Medical Information Legal, Tax & Regulatory Information Consumer & Entertainment Company Information Human Resources Information 0% 5% 10% 15% 20% 25% 26 Preferred Licensing Options Enterprise Unlimited Concurrent Users Multi-Site Unlimited Site Unlimited Named Users 0% 10% 20% 30% 40% 50% 60% 70% Source: Outsell's 2014 Information Management Benchmark & Trends 27 E-book Usage Rights in Place An e-book can be used by simultaneous users An e-book can be used by only one user at a time Other An e-book can be used an unlimited number of times Don’t know 0% 10% 20% 30% Source: Outsell's 2014 Information Management Benchmark & Trends Vendors 29 Librarians’ Views about Vendors Providing better customer service and support More transparent about pricing Simplifying licenses Providing better usage metrics Neither agree nor disagree More flexible about packaging bundles More flexible about licensing options Easier to do business with 0 20 40 Percent 60 80 30 Most Important Usage Statistics Raw usage statistics Cost per usage Calculated ratios and/or calculated statistics Number of reference questions Industry ratios and/or benchmarks Other 0% 20% 40% 60% 80% 100% Source: Outsell's 2014 Information Management Benchmark & Trends Next Steps 32 Imperatives Information managers Strengthen the relationships with vendors. Measure and deliver value beyond usage statistics. Embrace a DIY model. 33 Essential Actions Vendors Strengthen the relationship with IM managers. Help IM deliver value. Embrace flexibility. 34 A Story 35 36 Shift Happens! November 2015 Outsell’s Enterprise Content – Buyers Meet Sellers Location to be determined in US 38 Questions & Discussion About Outsell Outsell, Inc. is the world’s only research and advisory firm focused solely on media, information, and technology. We use a time-tested, quality-proven, top-secret blend of data, brains, community, and pizzazz to produce extraordinary value for our clients. Elite information industry executives from all over the world look to Outsell for trusted advice, bold insights, and confidential access to exclusive intelligence and decision support. Outsell has your back. You’ll stay more focused, save time, and grow revenue in a fast-changing, global, digital environment, and sleep better at night. 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