The DEAL Cost Modeling Tool
The DEAL agreements provide a framework to orient institutional investments around open dissemination of research, but budgeting for the open access publishing needs of researchers can be challenging for stakeholders. While previous library subscription fees are known, the entity of investments in open access publishing of articles (APCs) before the DEAL agreements is, in most cases, unknown, as publishing trends of authors were not previously tracked and payments were largely made outside of central oversight.
The DEAL Cost Modeling Tool is an interactive, Excel-based tool that addresses this challenge, giving every institution the means to calculate their total costs with the publishers Wiley and Springer Nature and assess the financial impact of the DEAL agreements on the immediate and long-term, in a variety of cost scenarios.
How it works
The DEAL Cost Modeling Tool uses known institutional publishing and financial data and robust methodology to generate financial projections of future costs based on different scenarios relevant to the scholarly publishing needs of their researchers.
For many institutions, the DEAL agreements are their first opportunity to precisely track the article output of their authors and the relative costs, and this wealth of high-quality institutional data forms the basis of the DEAL Cost Modeling Tool’s projections.
In order to build out the most realistic projections possible from the institutional data, the Tool also incorporates industry-standard bibliographic and financial data from years previous to the DEAL agreements and applies robust methodology to identify relevant trends.
Institutions simply need to input the total number of articles published by their authors under the DEAL agreements, and their subscription fees from years previous to the DEAL agreements with the respective publisher.
The DEAL Cost Modeling Tool generates projections automatically, making it easy for institutions to:
- gain insight into the publishing trends of their authors,
- benchmark the entity of previously hidden open access publishing costs,
- calculate the immediate financial impact of DEAL’s publication-based costs and compare these with other cost scenarios,
- forecast long-term savings, or funding requirements to support the needs of their scholars, in the transition of scholarly publishing to open access.
Institutions have the option to refine the projection settings with their own open access publishing targets, subscription coverage, and more, to create their own, custom projections.
The Tool’s projections can be printed and immediately used in budget consultations among stakeholders, to evaluate savings and discuss funding redistribution needs.
Projections of national, state and institutional publication-based costs
The projections in the DEAL Cost Modeling Tool track open access publishing and subscription costs on the National, State and Institution level over time. The key trend lines that emerge give institutions a view into how their total costs are expected to develop based on current trends.
The different cost scenarios built into the Tool give institutions the ability to contrast and compare their projected costs under the conditions secured with the DEAL agreements, with their costs under the previous subscription-based system and other scenarios.
The animation below gives users an idea of the kind of projections they can create and view in the Tool, based on the data they input and they settings they select.