Index Reveals Key Industry Growth Information While Providing Training Ground for Business Psychology Students
CHICAGO (November 4, 2010) - The digital signage industry continues to thrive despite a challenging economy, according to the third quarter North American Digital Signage Index released on November 2nd by the Platt Retail Institute at The Chicago School of Professional Psychology. Measuring business activity in the digital signage industry based on business leader sentiment, the quarterly Index is a leading industry guide largely developed by doctoral student interns at The Chicago School of Professional Psychology (TCSPP) under the supervision and mentorship of the Platt Retail Institute (PRI) director and fellow Steven Keith Platt. Some key findings of the current Index include:
The Current DS Index increased from 120.63 in the first quarter of 2010 to 122.87 in the second quarter of 2010, a 1.86 percent increase. This is down from the 4.41 percent increase in the Current DS Index last quarter.
The Near-Term DS Index was 131.11, a 6.70 percent increase in sentiment versus the second quarter 2010. This is down from the 11.80 percent increase in the Near-Term DS Index last quarter.
The Current DS Index's rate of growth is decelerating, closely tracking GDP and retail sales in the quarter. A key component of the Near-term DS Index, the overall level of anticipated business activity, is sharply lower.
"We anticipate that the balance of the year will be generally weak, with some moderate improvement later in the year (sans retail, which will be in full holiday season mode)," said Platt. "An improving economy and recovering advertising spending should bode well for an improving 2011."
Not only is the Index a leading resource for the digital signage industry, but it provides an opportunity for future business analysts, consultants and other professionals to learn critical skills. Doctoral students in the Business Psychology program at The Chicago School intern at PRI, and are instrumental in producing many of its publications and resources, including the Index, research reports and articles, and webinars.
Justin Greenfield, a student in his third year of the Business Psychology Psy.D. program at TCSPP, has developed, calculated and coordinated the Index over the last four quarters.
"Putting together these Indexes has given me the opportunity to uncover the drivers of a new and budding industry from a macro level," said Greenfield. "I've not only learned the important skills of developing large scale surveys and reports, but I'm also able to make the connections between consumer psychology theory and case studies we cover in class and what is actually happening out there on a day to day basis in a specific industry."
Greenfield says the experience of working at PRI will be invaluable as he looks forward to a consulting career.
"We aligned with The Chicago School because it brings excellent research resources and expertise in consumer psychology, buying behaviors and the impact of media on buying decisions," said Platt. "Our clients are better-served, and we offer students training and highly relevant work experience that utilizes the range of skills they are learning in school. Everybody wins."
The Q3 2010 North American Digital Signage Index is available for download at http://www.plattretailinstitute.org/indexes
About Platt Retail Institute at The Chicago School of Professional Psychology
The Platt Retail Institute at The Chicago School of Professional Psychology (PRI) is recognized worldwide as an industry-leading expert in research and consulting to retailers, media companies, financial institutions, hardware, software, transmission, and other business enterprises seeking to impact the customer in-store experience. PRI serves as a knowledge bridge between the academic world and industry, by synergizing the wealth of knowledge being produced at the university level with the need for more advanced yet practical business research and insight at the customer level. The firm consults with, and is supported by, companies including Advance Auto Parts, Blockbuster, British Telecom (UK), Cisco, GlobeCast, Harris Bank, IBM, Monopoly Media (Romania), NEC, Nike, Rogers Communications (Canada) and Unisys, among many others. In connection with the digital communications network industry (DCN), PRI delivers impartial business analyses and offers the strategic consulting necessary to an organization considering the impact and benefits of a digital communications network implementation.
About The Chicago School of Professional Psychology
Founded in 1979, The Chicago School of Professional Psychology (TCSPP) is the nation's leading nonprofit graduate school dedicated exclusively to the applications of psychology and related behavioral sciences. The school is an active member of the National Council of Schools and Programs of Professional Psychology, which has recognized TCSPP for its distinguished service and outstanding contributions to cultural diversity and advocacy. The school's community service initiatives have resulted in three consecutive years of recognition on the President's Higher Education Community Service Honor Roll, including the additional "With Distinction" honor in 2010. In 2009, the school was named to The Chronicle of Higher Education's annual list of "Great Colleges to Work For." Campuses are located in Chicago; in Los Angeles, Westwood, and Irvine, California; and the newest campus in Washington, D.C. Doctoral psychology programs and masters psychology programs are offered on-ground and in an online-blended format.
For more information about The Chicago School of Professional Psychology, visit www.thechicagoschool.edu. Follow us on Twitter at www.twitter.com/gradpsychology. Follow us on Facebook: www.facebook.com/thechicagoschool.