Data Conversion: Calculating the Monetary Benefits

By: Patricia Pulliam Phillips and Holly Burkett

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Synopsis: This book tackles the third major challenge and the second most difficult step in the ROI methodology: converting data to monetary values. When a particular project or program is connected to a business measure, the next logical question is: what is the monetary value of that impact? For ROI analysis, it is at this critical point where the monetary benefits are developed to compare to the costs of the program to calculate the ROI. Includes: the importance of converting data to monetary value; preliminary issues; standard values: the standard values: where to find them; using internal experts, using external databases; linking with other measures; using estimates; when to abandon conversion efforts and leave data as intangible, analyzing the intangibles; and reporting the intangibles.