Measuring of parking effectiveness

Answer QuestionsCategory: OtherMeasuring of parking effectiveness
Aleksey Savkin Staff asked 1 year ago

This indicator is for measuring of the effectiveness of the parking spaces usage; More details: client has a hotel with underground parking, it is necessary to measure the effectiveness of the usage of this parking garage.

One obvious issue is that we want to increase the profit we have per parking space, another issue is that clients will not be willing to stay in the hotel with expensive parking, especially when they stay for a week or longer.

KPI Units: income $ per parking space + something more to prevent overpriced parking.

KPI Time Frame: update once a month

Comment by Sean Preusse:

There are a few measures you could use. In isolation they would not tell you much, but in combination they may be able to assist. The first measure I would look at would be a occupancy rate where you would look at the % of car spaces that are unfilled on average for the month. This same measure could be compared against season, week day and hours of the day. 

The second measure would be to group customers who use the car parking into long term stay, short term or guest parking. You may even have different rates attached to these groups. 

In combination with occupancy rate you should be able to identify area’s for improvement where a possible reduction in ticket prices could be attained on down period or better segmentation of the marketing strategy to incur costs from accommodation if not already with an aim to measure improved income from parking. 

I am sure most parking sensor technology measures both a car entering and exiting the car space as well as the length of time in between entering and exiting. The other component to this would be entry where a card or chip could be used to categories set customers from front of house.


KPIs or Strategy – which comes first?

Start free wizard to create your strategy map Ideally, you need to have a strategy before start thinking about KPIs. How to create a good strategy? It's tricky and will require your expertise:
  • You will need to understand what your customers want and
  • How to give them what they want in the most effective way.
  • You will need to think about your competitors and, for sure, about your team.
Sounds like something complex? Not at all! Use this free Strategy Map Wizard and you will have your strategy map in 6 minutes.

10-Step System to Find Tailor-Made Key Performance Indicators

kpi-system-240

Examples of KPIs

It is easier to get started with KPIs when you have some good examples to follow. Find here examples of KPIs for various domains.

Winning KPI Crash Course

premium-bsc-training Even the best KPIs won't change anything if they are not properly aligned with a business context, if a company's strategy is not well defined, if there is no clear understanding about what the company is measuring and way...

Check out a "crash-course" for the Balanced Scorecard and KPIs.

Find us on Google Plus