This presentation provides information on the current collections data analysis environment in most libraries, or the lack thereof. Libraries spend millions of dollars each year on resources, and data analysis is an essential tool in providing good stewardship of those resources and the funds that are allocated for them. We can no longer rely on anecdotal evidence to inform collections decisions, and we need to implement tools to enable data-driven decision making that support tranfsformational collections strategies. The presentation provides details of work currently being done in the Brandeis University Library as well as work that has been done over the past year in the UMass Amherst Libraries towards establishing basic guidelines for data gathering, interpretation, and use. Details include how guidelines were established, what has been accomplished, and what remains to be done.