The term *Business Intelligence* might sound cutting-edge, but it actually dates back to 1865, when a banker used data-driven insights to outsmart competitors — long before anyone dreamed of cloud dashboards or machine learning. Since then, BI has evolved from static reports and spreadsheets into powerful, predictive systems that help businesses see what’s coming next.
Retailers like Walmart use it to forecast demand, hospitals rely on it to track patient outcomes, and delivery giants like UPS optimize routes in real time. Now, the self-storage industry is tapping into the same analytical power — using BI to anticipate market trends, forecast revenue, track occupancy patterns, and measure marketing ROI with pinpoint accuracy.
What is Business Intelligence?
Business intelligence (BI) involves collecting, analyzing, and interpreting data to help organizations make informed, strategic decisions.
In simpler terms, it’s a catchall for the ways that businesses turn raw data into actionable insights. For example, spotting sales trends, predicting customer behavior, or identifying inefficiencies in operations.
A BI platform consists of three core tasks:
- Data collection: Gathering information from multiple sources (facility management software, website traffic, accounts receivable, insurance enrollment, etc).
- Data analysis: Using software and analytics to find patterns, relationships, or trends.
- Data visualization: Presenting the results through dashboards, charts, and reports so decision-makers can easily understand them.
Most modern self-storage operators are already generating lots of data. The problem is very few have the resources to make use of it effectively. Every online interaction, phone call, and transaction is a crucial data point. Without the right technical know-how or budget to develop their own data analysis or data visualization, lots of operators are sitting on a potential goldmine of information that they could be using to gain a competitive advantage and propel their business.
Business Intelligence for Self-Storage
The big self-storage REITs and other institutional scale operators recognized the value of their data early on. Self-storage REITs spent the last two decades building centralized business-intelligence stacks. From CRM and web analytics to proprietary revenue-management and data-science teams, they’ve used these tools to turn their massive pools of data into fine-tuned market indicators that informed their pricing, marketing, and acquisition decisions.
Now operators of all sizes can level the playing field by using Business Intelligence to surface their own data and bring it to life. Data packs and custom reports give operators actionable insights into their business that empower them to make complex business in an always changing market.
Here are three examples of how operators can use Business Intelligence to solve problems and achieve goals:
Raising in-place rents
A self-storage operator tracking gross potential vs. actual rental revenue sees a consistent gap indicating that in-place rents lag behind market rates. By pairing this with average rent per square foot—paid vs. standard rate, the operator pinpoints tenants paying below current pricing and applies targeted increases. This data-driven approach lets the operator raise rents with confidence and capture unrealized revenue without risking occupancy.
Increasing marketing ROI
A self-storage operator analyzes move-ins and revenue by promotion quickly sees which offers actually drive profitable customers, not just volume. By combining revenue generated by promotion with average length of stay by promotion, they identify which campaigns attract long-term, high-value tenants versus short-term bargain hunters. This insight allows the operator to double down on promotions that deliver the best ROI and retire those that don’t.
Forecasting seasonal demand
A self-storage operator looking at monthly revenue trends YoY & MoM spots recurring seasonal spikes and dips in demand. By layering in move-ins by promotion over time, they see which marketing campaigns historically boost occupancy during slow periods. This combined view lets them forecast demand, plan targeted promotions, and optimize staffing and inventory ahead of peak and off-peak seasons, ensuring revenue stays steady year-round.
Want to see Storable’s Business Intelligence in action? Learn more here.
