White Paper – The Optimized Library: Prescriptive Foundations for Resource Stewardship in an Era of Fiscal Austerity

Read the latest Choice white paper showing academic libraries how to bridge their predictive gaps using prescriptive analytics

Authors:

Sam Suber

Choice’s latest white paper, “The Optimized Library: Prescriptive Foundations for Resource Stewardship in an Era of Fiscal Austerity,” shows academic libraries how to navigate fiscal threats by bridging library science and operations research.

Through case studies and by translating operational research concepts into practical collection strategies, author Sam Suber grapples with a tension many libraries are facing: they have the data to identify future fiscal threats but lack the mathematical framework to steer around them.

In his hit video series “The Optimized Library,” Suber shows how librarians can use Microsoft Excel Solver to create optimal and equitable solutions to difficult problems, from database renewals to open access budgets. This white paper articulates the framework behind this strategy. It shows how the wealth of data libraries collect, paired with the right mathematical framework, can help transform difficult decisions into strategic, defensible actions that maximize institutional value. His optimization-driven methodology demonstrates how libraries can navigate ever-tightening budgetary constraints without losing sight of their missions.

Key takeaways:

  • Translate abstract goals, such as aligning resource allocation with institutional mission, into objective functions and constraints
  • Shift from descriptive analytics (“what happened”) to prescriptive analytics (the optimal path forward)
  • Employ the Resource Steward Lifecycle to continually improve the optimization model and create a defensible audit trail for budgetary decisions

Authored by Sam Suber