Storable Introduces Business Intelligence for Self-Storage
Business Intelligence delivers answers in minutes—not hours—giving operators instant clarity into revenue, occupancy, and marketing performance.
Storable, the leader in integrated technology solutions for the self-storage industry, proudly announces the launch of its new Business Intelligence platform. This comprehensive analytics tool is designed to provide operators with immediate insights into crucial metrics such as revenue, occupancy rates, and marketing effectiveness. The platform leverages data from Storable Edge, ensuring that operators can access the information they need in real-time, thus making impactful decisions faster than ever before.
Addressing Challenges in the Self-Storage Market
The self-storage sector, valued at approximately $24 billion, faces significant challenges. Many operators find themselves trapped in inefficient practices, relying heavily on spreadsheets and outdated reporting methods that hinder their ability to respond to market dynamics effectively. The lack of access to thorough data analytics leaves these operators at a disadvantage compared to those who have the means to implement internal business intelligence solutions.
Chuck Gordon, CEO of Storable, commented, "We're addressing the most pressing issue within the self-storage industry. Business Intelligence allows operators to analyze their performance swiftly and accurately, providing a competitive advantage that can help them quickly adapt to changing market conditions. Now, operators can identify revenue declines and delinquent accounts sooner, optimize their marketing spend, and make informed decisions based on reliable data—all without the added cost of hiring analysts or creating their own reporting infrastructure."
Transforming Operations With Measurable Results
Storable's Business Intelligence platform offers storage operators the ability to achieve immediate, measurable results by:
- Competitive Edge: Quickly respond to shifts in the market.
- Time Efficiency: Reduce the time spent on manual reporting processes.
- Decision-Making Confidence: Base decisions on solid data without uncertainty.
- Growth Insights: Quickly uncover new revenue opportunities.
- Adaptability: Scale solutions to match your business size.
- Proactive Management: Identify revenue declines and delinquency issues before they escalate.
Features Tailored for Growth and Flexibility
The Business Intelligence platform integrates reporting directly within Edge, utilizing a tiered approach that adapts to the varying scale of different operators:
Management Reports (Included with Edge) offer 13 key reports pre-integrated into the Edge platform, providing essential insights to manage daily operations effectively.
Business Intelligence Essentials Pack is a customized data collection that enhances operational transparency, featuring two robust report categories:
Growth Reports
These reports analyze promotional strategies to identify which efforts attract tenants effectively. Operators can track:
- Move-ins linked to Promotions and Sources
- Revenue Generated Through Promotions
- Initial Revenue Trends from Promotions
- Average Length of Stay by Promotion
- And numerous other detailed marketing and sales reports.
Performance Reports
This set helps operators manage revenue, rates, and collections, allowing them to spot potential issues early. Key reports include:
- Monthly Revenue Trends
- Revenue by Categories
- Average Rent Rates per Square Foot
- Plus additional finance-focused reports.
Report Builder is an optional feature that provides teams with the ability to create tailored reports and dashboards according to their precise needs, facilitating in-depth data analysis without needing specialized analysts. Users can configure specific reports that capture critical data points and disseminate these insights throughout their organization.
Operators can acquire the Growth Reports and Performance Reports through the Essentials Pack, with the option to purchase the Report Builder separately for even greater flexibility.
Designed for All Stages of Business Growth
The Business Intelligence platform is tailored for operators, regardless of their business scale. From a single-site operator looking to maintain efficiency to larger, sophisticated multi-site portfolios requiring advanced analytics, the platform readily adjusts to offer the appropriate level of insight.
For smaller operators, it presents essential reporting tools that unlock decision-making capabilities previously reserved for larger players. For more developed operators, it delivers complex analytics and customizations necessary for staying competitive, without the complexities of managing a separate business intelligence system.
Gordon emphasized, "Operators consistently express their desire for a singular source of trusted information—something straightforward enough for daily use but powerful enough for comprehensive reporting to stakeholders. Business Intelligence achieves that goal by enabling them to demonstrate ROI, react swiftly to market fluctuations, and scale their operations without added layers of expenses or reliance on outside consultants."
Availability and Further Information
The Business Intelligence platform is currently available for Edge customers, with plans for future accessibility for Sitelink users. To learn more about how Business Intelligence can transform your self-storage operations, please visit www.storable.com or reach your Storable representative for a demonstration.
About Storable
Storable is pioneering new standards in property management for specialty real estate. Serving over 33,000 self-storage locations, Storable offers the industry’s first fully integrated technology platform. Our comprehensive solutions—from management software and demand generation to CRM tools and delinquency management—are designed to help storage operators enhance their workflows, attract new tenants, and increase revenue. Committed to empowering self-storage entrepreneurs, we enable success every day. Learn more about our platform at www.storable.com.
Frequently Asked Questions
What is the purpose of Storable's Business Intelligence?
The platform provides operators with essential insights into their performance metrics, allowing for quicker and more informed decision-making.
How does Business Intelligence help self-storage operators?
It enables operators to analyze data swiftly, enhancing their ability to react to market changes and improving overall operational efficiency.
What types of reports are included in the Essentials Pack?
The Essentials Pack includes Growth Reports and Performance Reports, offering valuable insights into marketing effectiveness and financial performance.
Can operators customize their reporting?
Yes, the optional Report Builder allows operators to create and personalize reports based on their specific data needs.
Who can access the Business Intelligence platform?
Currently, it is available for customers using Edge, with future accessibility planned for Sitelink users.
