November 25, 2020

Report: How Singapore’s National Library Board is Utilizing Analytics To Forecast Demand

From FutureGov Asia:

The National Library Board (NLB) used analytics to improve accuracy in forecasting patrons’ demand by 60 per cent, reducing waiting time for popular books and frequency of patrons not being able to find the book they want.

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The solution analyses NLB’s loan data to generate unrestricted, rolling forecast numbers for new titles, existing titles and for unmet demands such as patrons who fail to checkout a book on their visit. Each forecast is individually calculated using statistically optimised parameters to provide up-to-date projections.

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“Through the SAS Demand-Driven Forecasting solution, we are able to analyse past patron and circulation data, and turn these data into useful insights to guide our acquisition decisions,” commented [Colin] Seow [Manager of Resource Management]. “Our librarians’ experiences combined with our expertise in analytical insights have increased our ability to make acquisition decisions with greater accuracy.”

Read the Complete Article

See Also: Singapore: National Library Boards’s Ebook Collection Grows to Over 3 Million Titles Since 2005 (August 1, 2013)

About Gary Price

Gary Price (gprice@mediasourceinc.com) is a librarian, writer, consultant, and frequent conference speaker based in the Washington D.C. metro area. Before launching INFOdocket, Price and Shirl Kennedy were the founders and senior editors at ResourceShelf and DocuTicker for 10 years. From 2006-2009 he was Director of Online Information Services at Ask.com, and is currently a contributing editor at Search Engine Land.

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