Jove
Visualize
Contact Us
JoVE
x logofacebook logolinkedin logoyoutube logo
ABOUT JoVE
OverviewLeadershipBlogJoVE Help Center
AUTHORS
Publishing ProcessEditorial BoardScope & PoliciesPeer ReviewFAQSubmit
LIBRARIANS
TestimonialsSubscriptionsAccessResourcesLibrary Advisory BoardFAQ
RESEARCH
JoVE JournalMethods CollectionsJoVE Encyclopedia of ExperimentsArchive
EDUCATION
JoVE CoreJoVE BusinessJoVE Science EducationJoVE Lab ManualFaculty Resource CenterFaculty Site
Terms & Conditions of Use
Privacy Policy
Policies

Related Concept Videos

Decision Making: P-value Method01:09

Decision Making: P-value Method

5.8K
The process of hypothesis testing based on the P-value method includes calculating the P- value using the sample data and interpreting it.
First, a specific claim about the population parameter is proposed. The claim is based on the research question and is stated in a simple form. Further, an opposing statement to the claim  is also stated. These statements can act as null and alternative hypotheses:  a null hypothesis would be a neutral statement while the alternative hypothesis can...
5.8K
Statistical Analysis: Overview01:11

Statistical Analysis: Overview

14.3K
When we take repeated measurements on the same or replicated samples, we will observe inconsistencies in the magnitude. These inconsistencies are called errors. To categorize and characterize these results and their errors, the researcher can use statistical analysis to determine the quality of the measurements and/or suitability of the methods.
One of the most commonly used statistical quantifiers is the mean, which is the ratio between the sum of the numerical values of all results and the...
14.3K
Statgraphics01:10

Statgraphics

480
Statgraphics is a comprehensive statistical software suite designed for both basic and advanced data analysis. Originating in 1980 at Princeton University under Dr. Neil W. Polhemus, it was one of the pioneering tools for statistical computing on personal computers, with its public release in 1982 marking an early milestone in data science software. Over the years, it has evolved into a robust platform for data science, offering tools for regression analysis, ANOVA, multivariate statistics,...
480
Quantitative Analysis01:12

Quantitative Analysis

1.7K
Quantitative analysis is a technique for measuring the amount of specific constituents in a sample. When the sample's composition is unknown, qualitative analysis is performed first to identify its components, which ensures that the correct substances are measured during the quantitative phase.
In quantitative analysis, two key measurements are made: the sample quantity and a property proportional to the amount of the analyte (the substance being analyzed). This forms the basis of the...
1.7K
Interpretation of Confidence Intervals01:19

Interpretation of Confidence Intervals

8.7K
A confidence interval is a better estimate of the population than a point estimate, as it uses a range of values from a sample instead of a single value.
Confidence intervals have confidence coefficients that are crucial for their interpretation. The most common confidence coefficients are 0.90, 0.95, and 0.99, which can be written as percentages–90%, 95%, and 99%, respectively.
Suppose a person calculates a confidence interval with a confidence coefficient of 0.95. In that case, they can...
8.7K
Overview of Minitab01:11

Overview of Minitab

1.1K
Minitab is a statistical software package designed for data analysis. With its origins in the 1970s and development at Pennsylvania State University, Minitab has grown significantly in its capabilities and applications. It plays a crucial role in quality management projects, especially in Six Sigma initiatives, by offering tools for process improvement and statistical analysis. Minitab's significance lies in its user-friendly interface, making complex statistical analysis accessible to...
1.1K

You might also read

Related Articles

Articles linked to this work by shared authors, journal, and citation graph.

Sort by
Same author

The US-UK pharmaceutical deal - do dermatologists have skin in the game?

The British journal of dermatology·2026
Same author

Pharmaceutical pollution from health care: a systems-based strategy for mitigating risks to public and environmental health.

The Lancet. Planetary health·2026
Same author

Comment on "Cost Comparisons in NICE Technology Appraisals: An External Assessment Group Perspective" by Marten J. Poley et al.

PharmacoEconomics·2025
Same author

NICE's early value assessment: an external assessment group's commentary on the challenges and opportunities of NICE's new life cycle approach to HealthTech.

International journal of technology assessment in health care·2025
Same author

A pragmatic, randomised, open-label, multi-centre UK registry-facilitated trial evaluating the effect of high-dose cholecalciferol on mortality in patients on dialysis: the SIMPLIFIED trial.

Trials·2025
Same author

Decision Frameworks for Assessing Cost-Effectiveness Given Previous Nonoptimal Decisions.

Medical decision making : an international journal of the Society for Medical Decision Making·2025

Related Experiment Video

Updated: Apr 21, 2026

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
13:04

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods

Published on: September 19, 2012

11.6K

A practical guide to value of information analysis.

Edward C F Wilson1

  • 1University of Cambridge, Cambridge, UK, ed.wilson@medschl.cam.ac.uk.

Pharmacoeconomics
|October 23, 2014
PubMed
Summary
This summary is machine-generated.

Value of information analysis offers a quantitative approach to assess research investment returns. This method aids funders in project ranking and helps researchers determine optimal sample sizes, enhancing healthcare decision-making.

More Related Videos

A Two-interval Forced-choice Task for Multisensory Comparisons
07:13

A Two-interval Forced-choice Task for Multisensory Comparisons

Published on: November 9, 2018

10.5K
Quantification of Information Encoded by Gene Expression Levels During Lifespan Modulation Under Broad-range Dietary Restriction in C. elegans
09:23

Quantification of Information Encoded by Gene Expression Levels During Lifespan Modulation Under Broad-range Dietary Restriction in C. elegans

Published on: August 16, 2017

9.4K

Related Experiment Videos

Last Updated: Apr 21, 2026

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
13:04

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods

Published on: September 19, 2012

11.6K
A Two-interval Forced-choice Task for Multisensory Comparisons
07:13

A Two-interval Forced-choice Task for Multisensory Comparisons

Published on: November 9, 2018

10.5K
Quantification of Information Encoded by Gene Expression Levels During Lifespan Modulation Under Broad-range Dietary Restriction in C. elegans
09:23

Quantification of Information Encoded by Gene Expression Levels During Lifespan Modulation Under Broad-range Dietary Restriction in C. elegans

Published on: August 16, 2017

9.4K

Area of Science:

  • Health Economics
  • Decision Science
  • Research Methodology

Background:

  • Value of information analysis provides a quantitative framework for evaluating research investments.
  • Traditional methods like power calculations may not fully optimize study resource allocation.
  • Integrating economic evaluations with future research planning is crucial for efficient healthcare decision-making.

Purpose of the Study:

  • To introduce the methods of value of information analysis.
  • To provide a step-by-step guide for its calculation.
  • To discuss practical applications and challenges in healthcare decision-making.

Main Methods:

  • Quantitative estimation of return on investment for research projects.
  • Application in ranking competing research proposals for funders.
  • Utilizing principles to determine efficient sample sizes for studies.

Main Results:

  • Value of information analysis can guide research funding decisions.
  • It offers an alternative to traditional power calculations for sample size determination.
  • The analysis serves as a quantitative adjunct to economic evaluations and future research planning.

Conclusions:

  • Value of information analysis is a versatile tool for optimizing research investments.
  • Its application can lead to more efficient allocation of resources in healthcare research.
  • The provided methods and examples facilitate its adoption in practice.