The Value of Information in Decision-Making
The value of information in decision-making (“GEOValue”) and the associated economic impacts on society is sometimes difficult to quantify. This panel will discuss methods and solutions needed to develop robust and reliable estimates of the value of information.
A variety of current approaches for evaluating the GEOValue will be discussed including broad benefits assessments conducted by surveys, case studies for specific applications, as well as studies that address cost-saving or innovation applications. The panel will introduce the idea of value chains and look at the effectiveness of value chains in understanding the benefits of information for decision making, in government, private sector and the non-profit organizations. This includes looking at types of information that can be routinely collected to support enhanced and recurrent impact assessments.
Christoph Aubrecht – World Bank. Earth Observation for Sustainable Development program in support of International Financial Institutions
Jamie Kruse – East Carolina University, Supply chain, Value chain, Case Studies and Use Cases for assessing the Value of Geospatial Information
Yusuke Kuwayama – RFF, VALUABLES case studies on the value of information
Emily Pindilli – USGS, Harmful Algal Blooms as a use case on the value of information
Carl Shapiro – USGS, The Value of USGS Science for Society