SMARTLOT - A car park demand forecasting and price optimization solution

Acquire increased ability to respond to daily and seasonal car parking behavior patterns without implementation delays caused by the manual reading of spreadsheets. SmartLot Car Park Revenue Management System (CPRM) automates your analytics and upgrades revenue data management to make better forecasts and pricing decisions faster. For example, it can manage the daily customer mix for every car park, decide on charges for business users versus families on vacation, set an attractive long-term price, or incentivize pre-booking customers.

SmartLot

• It is a customizable off-the-shelf solution
• Enables superior forecasting and price optimization capability
• Quick and easy to implement

SmartLot optimizes revenue from airport car park facilities through demand forecasting and price optimization. The solution is a demand-driven pricing system that consists of machine learning-enabled future price recommendations. It is supported by dashboards and reports providing a historical analysis of bookings and prices and a representation of data science model outcomes. As a result, SmartLot helps manage car parks in airports, railway stations, malls, and public and private spaces, more efficiently and vastly increases their revenue through accurate forecasting and price optimization. SmartLot considers parameters like – length of stay, competitor pricing, traffic trend, seasonal demand, and special events to develop parking charges that vary with demand.