DLR Analytics™ - De La Rue’s data-driven insights platform that puts you in control of your cash cycle - is a cloud based software solution that gives central banks the tools they need to make evidence-based decisions for a better-managed, more efficient and more cost-effective cash cycle. In addition to informed decision making, DLR Analytics™ also provides better cash cycle visibility, a standardised approach and membership of the Cash Cycle Partnership – a supportive community of users and central banks around the world – the service now also offers advanced demand forecasting tools.
The newly launched DLR Analytics™ forecasting module, provides a flexible approach to scenario planning with easily adjustable replacement rates and ability to model how events might impact demand. A variety of popular central bank forecasting models are available within the tool, with supporting statistical output for robust decision making and DLR Analytics™ provides all users with access to the charts and data required to gain data-driven insights
The ability to forecast the demand for new banknotes continues to be a major challenge for central banks globally. The process of performing the calculations can be costly, in terms of both time and resource, and when you start asking “what if” questions the whole process may need to be started from the beginning.
The forecasting service runs off aggregated monthly data, with no extra data required and allows central banks to answer questions like When is the optimal time to place a banknote order? What is the potential impact of a future change on banknote demand? And how to compare different forecasting models?
Doug Brooks, Business Development Director for De La Rue said “By enabling central banks to take better control of their cash cycle, they can not only make better informed decisions, but with the new forecasting module, they will also be able to more easily model the impact of different scenarios, such as a move to polymer for example. They can analyse individual forecasts for each denomination, consider the impacts of seasonality, select the most appropriate forecast elements for a specific cash cycle, quantify the notes needed for replacement and growth and also track stock levels to identify when you need to take action.
He added “It really is an incredibly exciting development for DLR Analytics™. The launch of the new module facilitates a complete and consolidated view of an individual cash cycle, for the first time, within a single easy to use and incredibly informative tool.”
For more information on De La Rue’s DLR Analytics™, please click here.