Data Analytics and Garage Performance: a Key Factor for Success

January 23, 2024

Data Analytics and Garage Performance: a Key Factor for Success

January 23, 2024

In the modern world of parking management, optimizing the performance of your location using data is essential for success. Vend's Parking Control Systems stands out with its unique and powerful functionalities designed to improve garage performance and drive revenue growth. In this blog, we will explore the key features that differentiate Vend's platform, providing real value to both real estate owners and tenants.

1. Monthly Reporting Review:

Vend's Smart Parking Solutions offer comprehensive monthly reporting and analytics to garage owners. This feature enables them to track revenue, analyze trends, and gain valuable insights into their garage's performance. By accessing these in-depth reports, garage owners and property teams can make informed decisions and implement strategies that improve overall profitability.

As an example, owners can access detailed reporting about validations, diving into trends around which merchants are driving the most parks/validations to your location and different trends around when those validations are occurring. This information can help build partnerships that make sense for both you and the business increasing both of your revenues.

2. Analysis of Usage Patterns:

Vend's Parking Technology goes beyond conventional reporting by offering a variety of perspectives to analyze garage usage patterns. The platform allows garage owners to view data based on entry hours, duration of stay, visitor types (first-time vs. repeat), and parker types  (transients, monthly pass holders, third-party users, and validations).

This multifaceted approach helps garage owners gain a deeper understanding of their clientele and identify potential areas for improvement. For instance, identifying peak occupancy hours can lead to more effective resource allocation, ensuring a smooth parking experience for visitors during busy times.

3. Shared Parking:

One of Vend's most innovative features is the ability to offer shared parking, which provides benefits to both tenants and real estate owners. The platform provides a win-win scenario by creating new parking options that align with the needs of tenants while maximizing profits for the ownership.

By analyzing occupancy data by tenant, Vend uses data to help ownership determine if there are better options for optimizing space allocation. This not only improves the parking experience for tenants (who many times will pay less overall for their parking) but also enables the real estate owner to generate more revenue by increasing the overall price per space and utilization of the parking garage.

The platform allows real estate owners to set flexible pricing models that cater to the unique requirements of different tenants. This versatility fosters a harmonious relationship between the ownership and tenants, ensuring that both parties benefit from the parking arrangement.

These three examples are just a few of the ways Vend is helping our clients meet their property goals through our technology. Monthly reporting review and analysis of usage patterns provide garage owners with a comprehensive understanding of their parking facility's performance. The platform's ability to cater to flexible parking scenarios creates a harmonious environment where tenants and real estate owners alike can thrive.

By utilizing Vend's Parking Access Control, garage owners can make well-informed decisions, optimize their resources, and improve the overall parking experience for their customers. In the dynamic world of parking management, Vend proves to be a valuable ally in driving revenue growth and ensuring long-term success for parking facilities.

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