IoT-Driven Parking Profit Surge

Industry
Smart Mobility / PropTech
What we did
IoT Deployment, Revenue Ops, Workforce Optimization
Awards
Urban Ops Pioneer ’17

Objective

Add 10 % top-line and cut costs 15 % in 12 months without new real estate.

What we've done

1. Deployed 1,200 IoT bay sensors; integrated with dynamic pricing API.

2. Rewired labor schedules via constraint-based solver (Python OR-Tools).

3. Built Power BI revenue heat-map for real-time yield management.

Creative Process

1. Asset Audit | GIS mapping + dwell-time sampling.

2. Sensor Rollout | LoRaWAN backbone, 99.7 % uptime.

3. Pricing Algorithm | Elastic demand curves; price refresh every 15 min.

4. Workforce Model | Linear-program shift optimizer, union compliant.

5. Feedback Loop | Weekly stand-ups, continuous A/B on rates.

Results
  • Revenue +12 %, cost -15 %, OT -22 %.
  • Gross-margin delta +700 bps.
  • Employee NPS vaulted to top-quartile; wait times -30 %.
  • Payback on sensors in 9.8 months.
  • Conclusion

    Parking may be old-school asphalt, but data flips it into a hedge-fund-level yield asset.

    More Info

    SP Plus