Atlanta, GA – Prorize, a global leader in dynamic pricing solutions, today announced a new licensing agreement with StorTrack, provider of data intelligence for the self-storage industry. As part of the agreement, StorTrack will provide Prorize access to the latest competitive industry data on a daily basis, allowing it to further improve the price recommendations from its award-winning pricing software.
Prorize’s software solution for the self-storage industry, aptly named the Self Storage Rent OptimizerTM (SSROTM), analyzes a large number of data sets, including historical competitor and own rents, discounts, promotions, demand seasonality, demographics and other market intelligence, to serve its clients with optimum price points for each unit they sell. Crucially, the SSROTM evaluates the potential impact of competitor pricing to own customer demand.
“Competitive pricing may have an impact to your own customer demand, but this impact varies,” said Ahmet Kuyumcu, Founder and CEO of Prorize. “In some cases, ignoring competitive prices might be the right answer. In other cases, you should go half-way or match them. What this agreement with StorTrack does is to provide us with the data we need to accurately guide our clients to forecast demand and set optimum rents, always considering the impact of competitor prices.
“We are excited about this collaboration with Prorize. By integrating our data into their award-winning pricing solution, our clients will not only understand what’s going on in the market, but will also know exactly how to react to the changes that occur. Prorize’s excellent track record speaks for itself, and this agreement is a win-win for everyone involved,” said Jeff Brink, Vice President of StorTrack.
Prorize is a global leader in revenue management solutions. Winner of the world’s top prize for the practice of advanced analytics, the Franz Edelman Award, Prorize’s proprietary software and pricing consultants help clients capture maximum revenue from their assets. Prorize’s data driven approach focuses on providing value through mutually beneficial transactions and optimum price points allowing for sustainable and profitable growth of the enterprise.
StorTrack is the self-storage industry’s premier data and marketing intelligence service. Tracking over 40,000 facilities worldwide with daily pricing data, StorTrack also integrates demographics, ownership and other market data to provide tools and services that help operators, owners and investors make better decisions.