New Data Intelligence Platform, Digital Iris™ Has Allowed PSU to Make Information-Driven Decisions via Easy Analysis of Parking Data
VANCOUVER, BC–(Marketwired – Jun 3, 2014) – Digital Payment Technologies (DPT), a leading provider of multi-space pay stations and enterprise software parking solutions, and Portland State University (PSU) today announced the implementation of Digital Iris™, a cloud-based data intelligence platform that enables data analysis and visualization for the parking industry. Thanks to real-time data access and actionable information, PSU has been able to make data-driven decisions that have directly translated into measurable results. In less than six months of use, the university has made several adjustments to optimize parking revenue, increased compliance by 30 percent, and reduced collection times by 50 percent.
PSU’s parking landscape consists of eight lots serviced by 14 pay stations operating in Pay-by-License Plate (PBL) mode. The university implemented a PBL system from DPT in 2012 and has since experienced an increase in both revenue and operational efficiency. Digital Iris has allowed parking officials to further increase revenue and efficiency with real-time access to revenue and operational parking data.
“We are sitting on a mountain of parking data, but until Digital Iris, we had no easy way to extrapolate that data in a meaningful way,” said Jeff Mora, IT equipment and systems specialist at Portland State University. “Digital Iris allows us to analyze, visualize and share data in a matter of minutes, leading to fast, yet informed decisions that have helped us increase our revenue and operational efficiency.”
Illustrating the data-driven revenue opportunity, Mora explained how the university suspected one particular parking lot wasn’t making enough money and that the team had considered removing the pay station. By pulling up the revenue dashboard he had created in Digital Iris, Mora was quickly able to see that the lot actually brings in an average of $2,000 to $3,000 per month. Had the university removed the pay station, it would have suffered a loss in revenue.
In another example, Mora described how the university made the decision to move one of the pay stations to the other side of a parking structure after Digital Iris showed that the new location would optimize traffic flow and increase the pay station’s usage. In addition to increasing revenue, the change is anticipated to increase customer satisfaction by placing the pay stations in a more convenient location relative to traffic flow.
PSU is also in the process of changing a lot from permitted to hourly parking after Digital Iris showed the new configuration provided the potential for the lot to earn more than $20,000 per month.
Digital Iris offers university, municipal and parking operators data insight and visualization through key performance indicators, interactive metrics, and automated reporting, including:
- Personalized dashboards: Access the information that’s most vital and in the format that’s most useful through 90 available metrics and over 3,000 widget combinations.
- Actionable data and insight: Identify opportunities, take action and measure results.
- Interactive metrics and maps: See and interact with geographical data in real-time; intuitively locate pay stations, monitor status, identify “hot spots,” and plan efficient routes to reduce response times and save money.
- Dedicated collections and maintenance modules: Access detailed information on individual pay stations and receive alerts when pay stations need attention.
- Real-time monitoring: View operational and financial data on the status of the pay stations and data from other integrated systems. Configure customized alerts and receive immediate notifications.
- Automated reporting: Continue with the rest of your work; be proactive and schedule specific reports. Deliver them right to your inbox, freeing your staff to focus on more value-added tasks.
About Digital Payment Technologies
Digital Payment Technologies (DPT), a wholly owned subsidiary of T2 Systems Inc., is a leading provider of multi-space pay stations and enterprise software parking solutions. DPT products provide complete financial tracking, control, and reporting on parking revenue collected by cities, municipalities, universities, private operators, and national parks, from customer payment through to bank deposit.