Learning objective

This module will introduce you to the process of point rating which can be used in a company to assist with, decision making, evaluation of company activities, rating clients, sales etc. Suitable examples along with links to internet sites and bibliography are provided. After reading the component you will be aware of:

  • how to EVALUATE a product or services in order to take the correct decision
  • which STEPS are needed
  • and evaluation METHODS.

This will take you approximately 40 minutes.

Introduction

A rating system is a process whereby the specific characteristics of an object, process etc are measured and compared. Problems are then solved by comparing these characteristics, evaluating the results and making a decision.

Imagine that you are faced with an alternative. What action will you take?

Let’s remember the ancient story about a man who remains unmoved because he is as hungry as he is thirsty and is positioned exactly between food and drink (Aristotle 384 BC – 322 BC) or the story of the Buridan's ass.1

Figure 1 Buridan’s donkey paradox2

If you have to choose among two or more options, then in order to make the correct decision you will have to perform an evaluation process on the basis of a certain choice of measures, i.e. Point Rating will be required.

1 http://en.wikipedia.org/wiki/Buridan's_ass
2 Source: CorelDraw objects library

Download module as PDF

5_2_Point_Rating_System.pdf

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