Benefits and costs of MEDIN
All benefits and costs are presented as a total 10-year value (2014-2024), the period covered by the Cost Benefit Analysis. MEDIN Cost Benefit Analysis Final Report, November 2019.
Benefits and Costs of MEDIN
The Marine Environmental Data and Information Network (MEDIN) is the UK hub for marine data. For the first time ever, we have quantified the financial benefits that MEDIN’s services bring to our users. A Cost Benefit Analysis (CBA) of MEDIN was conducted by environmental economists from eftec and marine consultants from ABPmer and found that the benefit to cost ratio of MEDIN’s services is more than 8.
Staying organised with MEDIN is simple, meaning your own data is easy to find and use.
Our users save time by managing their own data holdings more efficiently and improving their organisational data management procedures,using the MEDIN metadata standard and data guidelines and our expert advice.
It's easy to find marine data because it’s all in one place.
Our users spend less time searching for existing marine data because of the availability and accessibility of data from the MEDIN portal and Data Archive Centres.
Avoid the cost of a marine survey – you can use the data from MEDIN.
Our users spend less time carrying out expensive surveys of the marine environment because of the accessibility and availability of other people’s data from the MEDIN portal and Data Archive Centres. Our structured, consistent data guidelines ensure all relevant information is available.
Make better decisions because you have more evidence.
It was difficult to monetise these benefits but our users particularly noted MEDIN makes it easier to: carry out legally required reporting on water quality and other environmental measures; effectively plan where to carry out offshore developments for wind turbines, fish farms or other off shore structures; conduct marine science research; and carry out more effective marine surveys.
Coordinate UK marine data management.
Financial costs to operate MEDIN as an open partnership for the public good include the employment of a small team of staff, associated overheads and a range of external contracts to provide our community tools and services.
As with any new system, it takes our users a little time to familiarise themselves with MEDIN and to learn how to apply our standards and guidelines to their data, so that they can upload information to the MEDIN portal.
All benefits and costs are presented as a total 10-year value (2014-2024), the period covered by the Cost Benefit Analysis. MEDIN Cost Benefit Analysis Final Report, November 2019. https://www.medin.org.uk/medin/sites/medin/files/documents/MEDIN%20Cost%....