How Data Can Make Your Self-Storage Run Like A Swiss Watch

It is common knowledge that data analysis can significantly impact the customer experience and the company's bottom line, such as by creating more targeted marketing campaigns or identifying ancillary revenue streams. However, data analysis can also bring efficiency within the self-storage business to a whole new level. At Unwired Logic, we advocate automation in the self-storage industry because of its unparalleled benefits to cost-effectiveness in running the facility. Pairing automation with data analysis can make the storage business run like an oiled, well-maintained machine.

Optimized Energy Use

Two of the biggest expenses for self-storage operators are maintenance and energy costs. An automated self-storage facility typically has multiple sensors, like thermometers/ thermostats, movement, door, and similar sensors. If we analyze the usage patterns and environmental trends, like temperature or humidity fluctuations, we can change how lighting and HVAC systems work to improve overall efficiency. For example, during peak hours, when doors will be opened and closed more often, the HVAC system should run higher to maintain temperature, and during quieter times, it can be set to idle for longer intervals. An adaptive climate control system can monitor this data continuously and make real-time adjustments to reduce energy costs while still maintaining a set temperature inside the facility. This analysis can also predict which HVAC unit or lighting fixture will require maintenance in the near future based on the frequency of usage. This optimized maintenance schedule can lower the risk of breakdowns and expensive repairs.

Optimized Space Utilisation

Is your self-storage set up in the optimal way? Space Utilization mapping can identify areas that are designed inefficiently or underused. Using occupancy rates over time, access time, and access frequency, it is possible to create a heat map of the facility, for example, corridors that are accessed all the time and end up crowded or storage units that are in inconvenient locations and hard to rent out. As a result of such an analysis, we can:

• Reconfigure the layout to increase the number of in-demand units.
• Adjust wasted spaces, like wide corridors that aren't accessed often or unused corners to make space for more units.
• Convert unused larger units into smaller ones, or vice versa, based on predicted demand.
• Ensure that high-demand units and other high-traffic areas (like loading bays, corridors, etc.) are easy to access, even during peak times.

Optimized Risk Management

Every business comes with a risk. A particularly high one in self-storage is fraud. From using falsified identities or payment methods to storing illegal goods, a lot of due diligence is expected from operators. Data analysis can significantly decrease the risk, especially if supplemented with AI tools. By analyzing transaction history, payment patterns, access patterns, and other customer behavior, we can group customers into risk profiles and assign them a score. Each new customer will be compared against these clusters and assigned their own risk score. Predictive models can flag potentially harmful or suspicious behavior and alert the management of the self-storage facility. It can also issue a warning when a tenant suddenly behaves unusually and deviates from the assigned risk cohort. These analyses do not replace established risk-management methods like credit checks but merely supplement them to decrease the risk of fraud further.

In conclusion, data analysis does not only have the potential to redefine interactions with customers, pricing decisions, and demand forecasts, it can also transform every aspect of running and managing self-storage. Even a partially automated self-storage business generates huge amounts of data that can and should be used to optimize efficiency. All you need to start making the most of your data is motivation and a reliable partner who can help you – like Unwired Logic.