Posts by Alden Chang

Big Data is not always available, or practical. Many industries, where pricing and other data is abundant, use big data analytics to help model an “optimal” price.  They can use big data analytics to examine large, complex, and varied data sets.  Then, use the analysis to reveal pricing drivers, concealed patterns and correlations. But many…

Pricing is such an important endeavor.  Yet organizationally, assigning the Pricing role and determining who should be held accountable for Pricing decisions can often be tricky. Pricing responsibility is especially an issue for large Self Storage companies.  These organizations can manage hundreds or even thousands of stores. A core element of this decision often boils down…

Disciplined and consistent use of a pricing methodology are keys to successful pricing and weathering economic uncertainty. Regardless of industry and business, you are likely following, or are considering, a comprehensive pricing methodology. We illustrate here a time-tested, Self Storage Pricing Life-Cycle model that centers around attracting, closing, and retaining the self-storage customer. Phase 1: Attracting…