What is DLS method in cricket?

The Duckworth–Lewis–Stern method (DLS) is a mathematical formulation designed to calculate the target score for the team batting second in a limited overs cricket match interrupted by weather or other circumstances. The method was devised by two English statisticians, Frank Duckworth and Tony Lewis and was formerly known as the Duckworth–Lewis method (D/L). It was introduced in 1997, and adopted officially by the ICC in 1999. After the retirements of Duckworth and Lewis, Professor Steven Stern became the custodian of the method and it was renamed to its current title in November 2014.

When overs are lost, setting an adjusted target for the team batting second is not as simple as reducing the run target proportionally to the loss in overs, because a team with ten wickets in hand and 25 overs to bat can play more aggressively than if they had ten wickets and a full 50 overs, for example, and can consequently achieve a higher run rate. The DLS method is an attempt to set a statistically fair target for the second team’s innings, which is the same difficulty as the original target. The basic principle is that each team in a limited-overs match has two resources available with which to score runs (overs to play and wickets remaining), and the target is adjusted proportionally to the change in the combination of these two resources.