Using Business Intelligence and Analytics Tools in Self-Storage

Kat Shenoy and Sachin Bhakta Comments
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Case Study: R.A.B. Management

With more than 250,000 square feet of rentable storage space under management and new buildings under construction, R.A.B Management is continually expanding and rapidly becoming one of Pennsylvania’s leading providers of self-storage services. Owner Ray Bartolacci III shared his thoughts on implementing a BI and analytics solution and his views on how such a move could help propel his business.

What's the benefit of a BI tool in self-storage?

It depends on the number of sites operated and the size of the individual locations, as well as whether use of a BI tool would reduce the time to react and improve occupancy when adjusting to market conditions in the current competitive environment.

What factors should storage operators consider when implementing a BI tool?

The first and the foremost question they should ask is if the basics of the program work correctly. Next, operators should evaluate the benefits of implementation. It also makes sense to look at the type and amount of competition they are they facing in their area.

Corporate America has made rapid progress in implementing BI tools. Why does the self-storage industry seem behind in embracing them?

The lack of competition in the beginning years of the industry meant operators could take a laidback approach when it came to looking beyond the scope of day-to-day operation. Until the big national chains came, there was no reason to implement anything like this. With the competition heating up, the self-storage industry is beginning to take notice and embrace new technologies such as BI and analytics that will help them stay ahead of the competition.
 
Kat Shenoy is the president and CEO and Sachin Bhakta is the vice president of development for E-SoftSys, a global provider of software, website design and development, and search-engine optimization to the self-storage industry. The company can also integrate online payments and call-center reservations into a company’s website. For more information, call 800.469.1740; e-mail sales@selfstoragemanager.com; visit www.selfstoragemanager.com.

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