Data integration combined with mindful automation isn’t the future of self storage. It’s the present. Operators across the industry are using data science, artificial intelligence (A.I.), automation and big data initiatives to drive operations, marketing, occupancy and revenue impact.
If your organization is apprehensive about A.I. or data science, it could be due to the misperception each term has and how they can sound like “buzz words” to the uninitiated.
To cut through any confusion let’s start by defining each term in context to the storage industry. Continue reading to learn:
Artificial intelligence, or A.I. is the concept of utilizing machines to perform tasks and mimic the behaviors of humans. While A.I. has existed in some form since the 1950’s, due to today’s advancements in technology, computing, and storage, A.I. is being adopted across numerous industries. A.I. relies on deep learning initiatives and machine learning to gain intelligence and insight over time. In the self storage space, A.I. is being leveraged to provide hyper-personalized customer interactions. Your self storage marketing team may be familiar with this adoption in a practical sense with the rise of chatbots assisting customer interactions on social media and on websites. Another practical example of A.I. in action are the customized selections you see when using Netflix.
Data science involves the extraction of large sets of data to predict outcomes and produce insights which provide solutions and business intelligence. Because data science integrates disparate datasets together, the insights produced can be applied on a granular level, which can be closely tracked and scaled within organizations.
Once an organization works with a team to develop a model and methodology, data science initiatives can be automated, creating efficiencies which are closely tied to a desired goal or metric. In the storage industry, data science presents lucrative opportunities with myriad applications.
Specifically, for self storage marketing teams, data science can impact occupancy in exciting ways. Our team will share how marketing and data science are driving occupancy and insights on a hyperlocal level during our Educational session at Self Storage Association (SSA) Spring tomorrow.
Thursday, March 14th: 3:30-4:30pm
Leveraging Data Science to Create a Marketing and Ops Scorecard that Drives Occupancy:
During this session, Linkmedia 360 and StorageMart will demonstrate how to use marketing and operations data together to drive occupancy, revenue, and scalable growth. Attendees will see examples of an automated scorecard methodology and will experience how the report provides real time insights across all channels while driving an action plan connected to the most impactful digital marketing tactics. You’ll learn about considerations needed for integration and alignment between teams to help your business leverage all available data to inform budgets and realize a positive return to investment.
Big data shouldn’t be feared. Self storage operators and REITs leveraging these initiatives are seeing transformative results. If your self storage marketing team or ownership still feels confused after reading this post, contact our team for additional context.
We’ll answer any lingering questions to dispel potential ambiguity associated with these terms and can help your organization utilize data science to provide solutions and business intelligence.