Attempting to Value Something (IDSS) So Invaluable

Effective communication of information contained in weather forecasts is a critical component in the realization of societal value of those forecasts. This understanding of the manner in which weather forecasts create societal value is reflected in the National Weather Service’s (NWS) Impact-Based Decision Support Services (IDSS) which are designed to ensure that the information contained in weather forecasts, watch and warning products is “used productively,” e.g., to reduce the harmful effects of natural hazards. Recent studies conducted by NOAA have identified and applied methods and frameworks that have the potential to increase the quality and consistency of benefit assessments over a broad range of NOAA products and services. Recently, NWS undertook an effort to integrate and refine relevant components from these studies in a repeatable, systematic approach designed to increase the quality and consistency of economic benefit assessments performed by the National Weather Service (NWS); and to apply this approach in further analysis of the social and economic benefits of NWS’ Impact-Based Decision Support Services (IDSS). This talk will provide an overview of those efforts and provide the latest as it relates to the economic valuation of IDSS.