People use evaluation systems to learn if their plans or projects are helping them to achieve desired goals and to understand how processes and strategies can be improved. Business professionals might use project evaluations to learn about the costs and levels of productivity associated with business initiatives. Educators, on the other hand, might perform curriculum evaluation to learn whether the lessons and assignments are helping students to grasp important concepts. To choose the best evaluation system, you first need to consider the kind of work you are doing and the questions you would like to have answered. For instance, if you are an investor and would like to perform a stock evaluation, you should use software that enables you to perform technical and fundamental analyses, while a manufacturer might access databases to analyze levels of productivity within his or her company.
An individual who would like to choose an evaluation system for his or her business plans might consider using both formative and summary evaluations. In the first system, professionals evaluate projects as they progress. They might use business intelligence to learn how much has been spent so far and what kind of budget they should compose based on prices of materials and market trends. A summary evaluation system, on the other hand, should be based on the end results of a project. Think about costs and levels of production versus what was predicted, as well as ways in which processes can be improved in the future.
Trainers and educators sometimes find that the best evaluation systems for them are student or trainee assessments. In these cases, as well, individuals can benefit from using both formative and summary evaluation methods. For instance, a week long training course might end each day with a daily quiz. At the end of a complete course, on the other hand, trainees might take a general assessment that tests their understanding of all key concepts. They might also be asked to practically apply skills or knowledge to real world scenarios.
The kind of evaluation system you use depends largely on your field and the kind of information you are trying to acquire. For instance, an investor who wants to get a better understanding of a stock's history should use a financial intelligence system that allows him or her to perform a technical analysis. This kind of financial professional can use an evaluation system in which he or she accesses information regarding performance of stocks under certain economic indicators and market trends.