During 1977-78 the refinement of a comprehensive investment model for higher education institutions in Michigan involved data collection and analysis. The best available data were solicited from a number of states and individual institutions for the refinement of the staffing ratios and costs of instruction in the model. Data were provided by 15 state systems and 40 additional individual institutions. The structure, focus, definitions, and other characteristics of cost and/or workload data varied considerably among the institutions. The analysis of the data resulted in two matrices: "Student Credit Hours/Full-Time Equivalent Faculty by Discipline and Level" and "Cost per Student Credit Hour by Discipline and Level." Because of the difficulty of comparing data from one institution or state with another, the information should be used with reservations. Despite efforts by the National Center for Higher Education Management Systems to promote commonality of data, many institutions have not internalized their tools. An outline is presented of the various forms under which the data were submitted, and a discussion is provided of the procedures used to aggregate and disaggregate the data to make it usable. Implications of data analysis and a commentary on the state of the art of cost analysis and work load measurement among states and individual institutions are discussed. (SW)