Leveraging insights to successfully manage parking operations.

6 min read

Smart parking operations allow us to efficiently, safely and quickly find parking, all while connecting us to the rest of our day. Creating an intelligent parking facility has become more and more sought after, as smart buildings aim to connect their visitor journeys at all touchpoints.

Business intelligence and analytics have become vital components in our journey to becoming smart, providing parking operators and facility managers with data that allow them to learn more about their customer's parking habits and keep tabs on their operational performance. Thanks to smart parking technologies such as license plate recognition, and parking guidance systems, property managers now have access to real-time data, analytics, and insights into the activities occurring on their parking facility, keeping them up-to-date on key performance indicators and their overall parking program. 

BI and analytics are the backbones of any successful parking operation. We asked our team why they believe business intelligence and analytics are integral to smart parking. Here is what they had to say.

Adamo Donatucci, Business Development Officer:

“Turning data into actionable insights is an essential requirement for any smart parking operation to be successful. Gathering valuable insights such as parking occupancy, payment methods, and variety of revenue streams provides an in-depth understanding of your operation. This, in turn, decisively allows for areas of improvement and opportunities to be identified and the right product deployment to be made.”

Luigi Lato, Chief Operating Officer:

“Understanding the nature of your parking operation can put you one step ahead in fueling future growth. When paired with smart technology, the beauty of parking is that it is data-rich. Utilizing these technologies to tap into business insights lets you focus on integrating smart solutions and deploying resources where they’re needed most.”

Lui Venir, Account Executive

“Many factors often go unnoticed when managing a parking operation. That is why integrating smart technologies such as parking guidance systems will give you the insights you need to increase operational performance and deploy dynamic solutions based on occupancy data, customer behaviour, and trends.”

Nancy Ho, Director, Customer Support Services:

“When it comes to parking operational efficiencies, there is always room for improvement. Analytics and smart parking technologies like live central monitoring work hand-in-hand to devise a seamless parking experience while extracting necessary parking data that fuels future growth.”

 Melissa Tucci, Client Relations Manager:

“Property managers are increasingly prioritizing data analysis to improve their parking operations and drive revenue generation. If you do not have access to real-time parking data, implementing smart technologies such as parking access and revenue control systems will provide you with the insights you need to streamline your operation.”

Bosco Tse, Client Relations Manager:

“Smart parking operations are fuelled by interconnectivity; that is why it is essential to create an intelligent environment that your organization and its visitors can enjoy. Integrating smart technologies with open data platforms make managing and evolving your operation all that much easier.”

Andrew Sgorlon, Technical Sales Support Manager

“Parking trends and data are a telltale sign of how efficiently your facility is operating. When analyzed correctly, they provide a wealth of insights that have the potential to enhance your operation and create a smart parking ecosystem.”

Cynthia Bruce, Senior Proposal Writer

“A strategic vision informed by accurate metrics and digestible business intelligence is critical to the success of your operation. Raw data combined with thoughtful analysis gives you full visibility of your parking operation and how it’s performing.”

Maria Lato, Marketing & Communications Manager

“Collecting data to monitor, measure and control results is key for any industry, and this includes parking management. Without data and analytics, business intelligence and opportunities for improvement are lacking on various fronts, especially in regards to sales and marketing aiming to promote positive customer experiences and increased sales. For example, we cannot measure digital marketing for a parking facility without knowing customer types, associated parking revenues, and the number of transactions within a given time. When paired with more advanced metrics such as the number of requests for directions to a parking lot and average parking stays and peak time, we can then deploy creative solutions to benefit the entire program.”

As we transition towards complete digitization, it is vital for smart parking operations of all sizes to utilize BI and analytics to pinpoint what is and what isn’t working within their facilities, and in turn make the necessary readjustments or additions.

References

Bruce, C. (2022, March 7). 5 ways data and analytics can improve your parking operation - precise ParkLink: Parking management services. Precise ParkLink | Parking Management Services. Retrieved March 7, 2022, from /news/5-ways-data-and-analytics-can-improve-your-parking-operation

Donatucci, A. (2021, December 17). The role of parking in urban mobility . Precise ParkLink | Parking Management Services. Retrieved March 10, 2022, from /news/the-role-of-parking-in-urban-mobility

Donatucci, A. (2022, March 4). Three KPIs for a successful parking operation - precise ParkLink: Parking management services. Precise ParkLink | Parking Management Services. Retrieved March 7, 2022, from /news/three-kpis-for-a-successful-parking-operation

Kassim, R. (2022, March 7). The first step to achieving key operational objectives? Understanding parking kpis - precise ParkLink: Parking management services. Precise ParkLink | Parking Management Services. Retrieved March 7, 2022, from /news/the-first-step-to-achieving-key-operational-objectives-understanding-parking-kpis