WO2021070104A1

WO2021070104A1 - System and method for evaluating an entity

Info

Publication number: WO2021070104A1
Application number: PCT/IB2020/059456
Authority: WO
Inventors: Nitten SETHI
Original assignee: Individual
Current assignee: Individual
Priority date: 2019-10-10
Filing date: 2020-10-08
Publication date: 2021-04-15
Anticipated expiration: 2022-04-10

Abstract

An aspect of the present disclosure provides systems and methods for evaluating an entity. According to an embodiment, a method for evaluating an entity includes the steps of: receiving, by one or more processors of a computing device, data packets of information related to a plurality of performance variables pertaining to performance of the entity which together characterize the efficiency of the entity, wherein performance variables are received after a predefined time-period; extracting, by the one or more processors, performance variables of the entity stored on a first database for most recent time-period; and determining, by the one or more processors, relative impact of each performance variable on an efficiency score of the entity by comparing the received performance variables with the extracted performance variables, wherein the determined relative impact of each performance variable of the plurality of the received performance variables enables determining current efficiency score of the entity.

Description

SYSTEM AND METHOD FOR EVALUATING AN ENTITY

TECHNICAL FIELD

[0001] The present invention relates to an evaluating system and method. More specifically, the present invention relates to systems and method for evaluating efficiency parameters of an entity.

BACKGROUND

[0002] The background description includes information that may be useful in understanding the present invention. It is not an admission that any of the information provided herein is prior art or relevant to the presently claimed invention, or that any publication specifically or implicitly referenced is prior art.

[0003] The employment scene in India has seen many developments in the past few years with new methods/ technologies and sources being introduced. There have been many endeavours to innovate and streamline the entire hiring process making it more organized and transparent leading to more clarity and satisfaction among applicants and the organizations alike. Since there is still a big scope of improvement and a need to regularize the hiring market, we introduce to you an elaborate system to give the recruitment process a standard measure for hiring candidates in a more controlled and transparent environment which is more detailed and elaborate in understanding of candidates. Employers find it difficult to find suitable candidates for position by searching resumes on an employment site because information is not necessarily presented in a uniform manner for each resume.

[0004] Further, if an employer finds a resume that appears appropriate, the first indication the employer can receive that information in the resume is inaccurate is when the employer contacts or conducts an interview of the job seeking candidate, or even after the candidate is hired by the organisation. By the time the potential employer discovers the inaccuracy in details provided by the candidate considerable time and effort have been wasted. Further, existing techniques over-look the achievements of the job seeking candidate while he/she was working with his/her previous organisation. Also, the existing techniques do not provide a way for the job seeker to analyse if the organisation is best suited for the ski 11 set he/she possess.

[0005] There is, therefore, a need in the art to provide systems and methods for evaluating efficiency of an entity that seeks to overcome or at least ameliorate one or more of the above-mentioned problems and other limitations of the existing solutions and utilize techniques, which are robust, accurate, fast, efficient, cost-effective and simple.

OBJECTS OF THE PRESENT DISCLOSURE

[0006] Some of the objects of the present disclosure, which at least one embodiment herein satisfies are as listed herein below.

[0007] It is an object of the present disclosure to provide system and method for evaluating efficiency of an entity.

[0008] It is another object of the present disclosure to provide system and method for evaluating efficiency of an entity that facilitates highlighting achievements of an entity.

[0009] It is another object of the present disclosure to provide system and method for evaluating efficiency of an entity that facilitates selecting procedure of an entity.

[0010] It is another object of the present disclosure to provide system and method for evaluating efficiency of an entity that provides a common platform for facilitating selecting procedure of an entity.

[0011] It is another object of the present disclosure to provide system and method for evaluating efficiency of an entity that maintains and continually updates the evaluated efficiency of the entity.

[0012] It is yet another object of the present disclosure to provide system and method for evaluating efficiency of an entity that is time and cost-efficient.

SUMMARY

[0013] The present invention relates to an evaluating system and method. More specifically, the present invention relates to systems and method for evaluating efficiency parameters of an entity.

[0014] An aspect of the present disclosure provides a method for evaluating efficiency of an entity. The method includes: receiving, by one or more processors of a computing device, data packets of information related to a plurality of performance variables pertaining to performance of the entity which together characterizes the efficiency of the entity, wherein performance variables are received after a predefined time -period; extracting, by the one or more processors, performance variables of the entity stored on a first database for a most recent time-period; and determining, by the one or more processors, relative impact of each performance variable on an efficiency score of the entity by comparing the received performance variables with the extracted performance variables, wherein the determined relative impact of each performance variable of the plurality of the received performance variables enables determining current efficiency score of the entity.

[0015] In an embodiment, if the most recent time-period is not stored on the first database, then the current efficiency score of the entity is determined based on the received performance variables.

[0016] In an embodiment, the efficiency score is a function of an aggregate of the plurality of the performance variables for the entity.

[0017] In an embodiment, the method comprises allocating an efficiency rating to the entity, wherein the allocated rating is selected from the plurality of efficiency rating based on the determined efficiency score for the entity.

[0018] In an embodiment, the method comprises storing the determined efficiency score, and the received plurality of performance variables on the first database.

[0019] In an embodiment, in response to a request to display the evaluation score of the entity, the method comprises extracting the determined evaluation score, and displaying the determined evaluation score of the entity on an entity computing device associated with the entity.

[0020] In an embodiment, the method comprising a step of normalizing the plurality of performance variables for comparing uncommon raw data values among one another. [0021] In an embodiment, the determined efficiency score, the determined efficiency rating and the performance variables are associated with the entity.

[0022] Another aspect of the present disclosure provides a system for evaluating efficiency of an entity. The system includes: one or more processors of a computing device; and a memory coupled to the one or more processors and comprising computer readable program code embodied in the memory that is executable by the processor to perform: receiving data packets of information related to a plurality of performance variables pertaining to performance of the entity which together characterize the efficiency of the entity, wherein performance variables are received after a predefined time -period; extracting performance variables of the entity stored on a first database for a most recent time-period; and determining relative impact of each performance variable on an efficiency score of the entity by comparing the received performance variables with the extracted performance variables, wherein the determined relative impact of each performance variable of the plurality of the received performance variables enables determining current efficiency score of the entity. BRIEF DESCRIPTION OF THE DRAWINGS

[0023] In the figures, similar components and/or features may have the same reference label. Further, various components of the same type may be distinguished by following the reference label with a second label that distinguishes among the similar components. If only the first reference label is used in the specification, the description is applicable to any one of the similar components having the same first reference label irrespective of the second reference label.

[0024] FIG. 1 indicates a network implementation of a system, which enables evaluating efficiency parameters in accordance with an embodiment of the present disclosure. [0025] FIG. 2 illustrates exemplary functional components of the proposed system in accordance with an embodiment of the present disclosure.

[0026] FIG. 3 is a flow diagram illustrating a method for evaluating efficiency parameters in accordance with an embodiment of the present disclosure.

[0027] FIG. 4 illustrates an exemplary representation of receiving evaluated efficiency score of the entity in accordance with an embodiment of the present disclosure. [0028] FIG. 5 illustrates an exemplary computer system 500 to implement the proposed system in accordance with embodiments of the present disclosure.

DETAILED DESCRIPTION

[0029] In the following description, numerous specific details are set forth in order to provide a thorough understanding of embodiments of the present invention. It will be apparent to one skilled in the art that embodiments of the present invention may be practised without some of these specific details.

[0030] Embodiments of the present invention include various steps, which will be described below. The steps may be performed by hardware components or may be embodied in machine-executable instructions, which may be used to cause a general-purpose or special- purpose processor programmed with the instructions to perform the steps. Alternatively, steps may be performed by a combination of hardware, software, firmware and/or by human operators.

[0031] Embodiments of the present invention may be provided as a computer program product, which may include a machine-readable storage medium tangibly embodying thereon instructions, which may be used to program a computer (or other electronic devices) to perform a process. The machine-readable medium may include, but is not limited to, fixed (hard) drives, magnetic tape, floppy diskettes, optical disks, compact disc read-only memories (CD-ROMs), and magneto-optical disks, semiconductor memories, such as ROMs, PROMs, random access memories (RAMs), programmable read-only memories (PROMs), erasable PROMs (EPROMs), electrically erasable PROMs (EEPROMs), flash memory, magnetic or optical cards, or other type of media/machine-readable medium suitable for storing electronic instructions (e.g., computer programming code, such as software or firmware).

[0032] Various methods described herein may be practised by combining one or more machine-readable storage media containing the code according to the present invention with appropriate standard computer hardware to execute the code contained therein. An apparatus for practising various embodiments of the present invention may involve one or more computers (or one or more processors within a single computer) and storage systems containing or having network access to computer program(s) coded in accordance with various methods described herein, and the method steps of the invention could be accomplished by modules, routines, subroutines, or subparts of a computer program product. [0033] If the specification states a component or feature “may”, “can”, “could”, or

“might” be included or have a characteristic, that particular component or feature is not required to be included or have the characteristic.

[0034] As used in the description herein and throughout the claims that follow, the meaning of “a,” “an,” and “the” includes plural reference unless the context clearly dictates otherwise. Also, as used in the description herein, the meaning of “in” includes “in” and “on” unless the context clearly dictates otherwise.

[0035] Exemplary embodiments will now be described more fully hereinafter with reference to the accompanying drawings, in which exemplary embodiments are shown. This invention may, however, be embodied in many different forms and should not be construed as limited to the embodiments set forth herein. These embodiments are provided so that this invention will be thorough and complete and will fully convey the scope of the invention to those of ordinary skill in the art. Moreover, all statements herein reciting embodiments of the invention, as well as specific examples thereof, are intended to encompass both structural and functional equivalents thereof. Additionally, it is intended that such equivalents include both currently known equivalents as well as equivalents developed in the future (i.e., any elements developed that perform the same function, regardless of structure).

[0036] While embodiments of the present invention have been illustrated and described, it will be clear that the invention is not limited to these embodiments only. Numerous modifications, changes, variations, substitutions, and equivalents will be apparent to those skilled in the art, without departing from the spirit and scope of the invention, as described in the claim.

[0037] The present invention relates to an evaluating system and method. More specifically, the present invention relates to systems and method for evaluating efficiency parameters of an entity.

[0038] An aspect of the present disclosure provides a method for evaluating efficiency of an entity. The method includes: receiving, by one or more processors of a computing device, data packets of information related to a plurality of performance variables pertaining to performance of the entity which together characterizes the efficiency of the entity, wherein performance variables are received after a predefined time -period; extracting, by the one or more processors, performance variables of the entity stored on a first database for a most recent time-period; and determining, by the one or more processors, relative impact of each performance variable on an efficiency score of the entity by comparing the received performance variables with the extracted performance variables, wherein the determined relative impact of each performance variable of the plurality of the received performance variables enables determining current efficiency score of the entity.

[0039] In an embodiment, if the performance variables for the most recent time- period is not stored on the first database, then the current efficiency score of the entity is determined based on the received performance variables.

[0040] In an embodiment, the efficiency score is a function of an aggregate of the plurality of the performance variables for the entity.

[0041] In an embodiment, the method comprises allocating an efficiency rating to the entity, wherein the allocated rating is selected from the plurality of efficiency rating based on the determined efficiency score for the entity.

[0042] In an embodiment, the method comprises storing the determined efficiency score, and the received plurality of performance variables on the first database.

[0043] In an embodiment, in response to a request to display the evaluation score of the entity, the method comprises extracting the determined evaluation score, and displaying the determined evaluation score of the entity on an entity computing device associated with the entity.

[0044] In an embodiment, the method comprising a step of normalizing the plurality of performance variables for comparing uncommon raw data values among one another. [0045] In an embodiment, the determined efficiency score, the determined efficiency rating and the performance variables are associated with the entity. [0046] Another aspect of the present disclosure provides a system for evaluating efficiency of an entity. The system includes: one or more processors of a computing device; and a memory coupled to the one or more processors and comprising computer readable program code embodied in the memory that is executable by the processor to perform: receiving data packets of information related to a plurality of performance variables pertaining to performance of the entity which together characterize the efficiency of the entity, wherein performance variables are received after a predefined time -period; extracting performance variables of the entity stored on a first database for a most recent time-period; and determining relative impact of each performance variable on an efficiency score of the entity by comparing the received performance variables with the extracted performance variables, wherein the determined relative impact of each performance variable of the plurality of the received performance variables enables determining current efficiency score of the entity.

[0047] FIG. 1 indicates a network implementation of a system, which enables evaluating efficiency parameters in accordance with an embodiment of the present disclosure. [0048] In an aspect, a system 104 implemented in any computing device can be configured/operatively connected with a server 108. Further, multiple entities 112-1, 112- 2...112-N (which are collectively referred to as entities 112 and individually referred to as entity 112, herein) can communicate with the system 104 through one or more entity devices 102-1, 102-2... 102-N (which are collectively referred to as entity devices 102, hereinafter) that can be communicatively coupled to the system 104 through a network 106. In one embodiment, the entities 112 can be a user, a customer, an individual, an employee and the like. In another embodiment, the entities 112 can be a company, an organisation, a government body and the like. The entity devices 102 can include a variety of computing systems, including but not limited to, a laptop computer, a desktop computer, a notebook, a workstation, a portable computer, a personal digital assistant, a handheld device and a mobile device.

[0049] Further, the network 106 can be a wireless network, a wired network or a combination thereof. The network 106 can be implemented as one of the different types of networks, such as intranet, local area network (LAN), wide area network (WAN), the internet, Wi-Fi, LTE network, CDMA network, and the like. Further, the network 106 can either be a dedicated network or a shared network. The shared network represents an association of the different types of networks that use a variety of protocols, for example, Hypertext Transfer Protocol (HTTP), Transmission Control Protocol/Intemet Protocol (TCP/IP), Wireless Application Protocol (WAP), and the like, to communicate with one another. Further the network 106 can include a variety of network devices, including routers, bridges, servers, computing devices, storage devices, and the like.

[0050] In an embodiment, the entities 112 can register themselves directly with the system 104 using any or a combination of a mobile number, date of birth, place of birth, first name and last name, a biometric or any other such unique identifier-based input. On successful registration, the entity 112 can be provided with a user name and password, which can be used for accessing the system 104.

[0051] In an embodiment, the system 104 can receive data packets of information related to a plurality of performance variables pertaining to performance of the entity 112 which together characterize the efficiency of the entity 112. The performance variables can be received after a predefined time period. The performance variables may include recognitions, appraisals, manager feedbacks, absenteeism etc. The performance variables may further include without any limitation Education, Stability, Performance, Awards & recognitions, promotions, appreciations, performance ratings (monthly or quarterly or half- yearly or yearly), target achievement and the like for individual entity 112. Further, the performance variables may include without any limitations Financials, revenue growth, profits growth, new business contracts earned, attrition, absenteeism and the like for organisation entity 112. The predefined time period can be a time period after which the performance variables are again received. The predefined time period can be configured as per the requirement.

[0052] In an embodiment, in response to the received performance variables, the system 104 can extract performance variables for a most recent time period for which the performance variables were recorded. In another embodiment, if the performance variables for the entity 112 is being recorded for a first time then the performance variables for that entity would not be present, and hence extraction would result in null or zero values.

[0053] In an embodiment, the system 104 can determine relative impact of each performance variable on an efficiency score of the entity 112. The relative impact can be determined by comparing the received performance variables with the extracted performance variables. The determined relative impact of each performance variable of the plurality of the received performance variables enables determining current efficiency score of the entity 112. The efficiency score is a function of an aggregate of the plurality of performance variables for the entity. Now, based on the determined current efficiency score for the entity 112, an efficiency rating can be determined. The efficiency rating can be determined by selecting the efficiency rating from a plurality of efficiency ratings. In yet another embodiment, the recorded performance variables for current time period, determined efficiency rating and efficiency score is associated with the entity 112 and stored on a first database. It would be appreciated that the first database can be present on a cloud/ server. [0054] In an embodiment, the system 104 can allow the entity 112 to retrieve the determined efficiency score and the efficiency rating. The extracted values can further be displayed on the entity devices 102. In another embodiment, the organization entity 112 can request for receiving efficiency score and the efficiency rating of the individual entity 112. Then based on the request the values will be extracted from the database and displayed on the entity device 102.

[0055] Although in various embodiments, the implementation of system 104 is explained with regard to the server 108, those skilled in the art would appreciate that, the system 104 can fully or partially be implemented in other computing devices operatively coupled with network 106 such as entity devices 102 with minor modifications, without departing from the scope of the present disclosure.

[0056] FIG. 2 illustrates exemplary functional components of the proposed system

104 in accordance with an embodiment of the present disclosure.

[0057] In an aspect, the system 104 may comprise one or more processor(s) 202. The one or more processor(s) 202 may be implemented as one or more microprocessors, microcomputers, microcontrollers, digital signal processors, central processing units, logic circuitries, and/or any devices that manipulate data based on operational instructions. Among other capabilities, the one or more processor(s) 202 are configured to fetch and execute computer-readable instructions stored in a memory 206 of the system 104. The memory 206 may store one or more computer-readable instructions or routines, which may be fetched and executed to create or share the data units over a network service. The memory 206 may comprise any non-transitory storage device including, for example, volatile memory such as RAM, or non-volatile memory such as EPROM, flash memory, and the like.

[0058] The system 104 may also comprise an interface(s) 204. The interface(s) 204 may comprise a variety of interfaces, for example, interfaces for data input and output devices, referred to as I/O devices, storage devices, and the like. The interface(s) 204 may facilitate communication of system 104. The interface(s) 204 may also provide a communication pathway for one or more components of the system 104. Examples of such components include, but are not limited to, processing engine(s) 208 and data 210. [0059] The processing engine(s) 208 may be implemented as a combination of hardware and programming (for example, programmable instructions) to implement one or more functionalities of the processing engine(s) 208. In examples described herein, such combinations of hardware and programming may be implemented in several different ways. For example, the programming for the processing engine(s) 208 may be processor executable instructions stored on a non-transitory machine-readable storage medium and the hardware for the processing engine(s) 208 may comprise a processing resource (for example, one or more processors), to execute such instructions. In the present examples, the machine -readable storage medium may store instructions that, when executed by the processing resource, implement the processing engine(s) 208. In such examples, the system 104 may comprise the machine-readable storage medium storing the instructions and the processing resource to execute the instructions, or the machine -readable storage medium may be separate but accessible to system 104 and the processing resource. In other examples, the processing engine(s) 208 may be implemented by electronic circuitry.

[0060] The data 210 may comprise data that is either stored or generated as a result of functionalities implemented by any of the components of the processing engine(s) 208 or the system 104.

[0061] In an exemplary embodiment, the processing engine(s) 208 may include a registration engine 212, an information receive engine 214, an efficiency value determination engine 216, a presentation engine 218, and other engine(s) 220.

[0062] In an embodiment, the registration engine 212 provides the entities with an ability to register themselves directly with the system 104. The registration engine 212 can mandate requirement of any or a combination of a mobile number, date of birth, place of birth, first name and last name, a biometric or any other such unique identifier-based input. [0063] In an embodiment, on successful registration, the entity can be provided with a user name and password or any other unique identifier for accessing the system 104. Additionally, or alternatively, the entity can be provided with a reward card, in which tokens can be collected and later used for redemption.

[0064] Those skilled in the art would appreciate that the above-mentioned aspects related to the registration engine 212 can also be utilized for registration of entities such that registered entities can be associated with their associated entities through the system 104. [0065] In an embodiment, the registration engine 212 can require to provide details as shown in Table. 1.

[0066] In an embodiment, the information receive engine 214 configured to receive data packets of information related to a plurality of performance variables pertaining to performance of the entity 112 which together characterize the efficiency of the entity 112. The performance variables can be received after a predefined time period. The performance variables may include recognitions, appraisals, manager feedbacks, absenteeism etc. The performance variables may further include without any limitation Education, Stability, Performance, Awards & recognitions, promotions, appreciations, performance ratings (monthly or quarterly or half-yearly or yearly), target achievement and the like for individual entity 112. Further, the performance variables may include without any limitations Financials, revenue growth, profits growth, new business contracts earned, attrition, absenteeism and the like for organisation entity 112. The predefined time period can be a time period after which the performance variables are again received. The predefined time period can be configured as per the requirement.

[0067] In an embodiment, Table. 2 discloses points table or evaluation table specific for individual entities. As shown in the Table. 2 that there are 6 efficiency ratings such as 5 star, 4 stars, 3 stars, 2 stars, 1 star and 0 stars. Further, as shown in column with heading “factors for computing scores" provides possible performance variable.

Table. 2 [0068] For organization entities, Table. 3 discloses points table specific for organ entities. As shown in the Table. 3 that there are 4 efficiency ratings such as A, -A+, A++. Further, as shown in column with heading “factors for computing scores" provides possible performance variables.

Table. 3

[0069] In response to the received performance variables, the efficiency values determination engine 216 can extract performance variables for a most recent time period for which the performance variables were recorded. In another embodiment, if the performance variables for the entity 112 is being recorded for a first time then the performance variables for that entity would not be present, and hence extraction would result in null or zero values. [0070] In an embodiment, the efficiency values determination engine 216 can determine relative impact of each performance variable on an efficiency score of the entity 112. The relative impact can be determined by comparing the received performance variables with the extracted performance variables. The determined relative impact of each performance variable of the plurality of the received performance variables enables determining current efficiency score of the entity 112. The efficiency score is a function of an aggregate of the plurality of performance variables for the entity. Now, based on the determined current efficiency score for the entity 112, an efficiency rating can be determined. The efficiency rating can be determined by selecting the efficiency rating from a plurality of efficiency ratings. In yet another embodiment, the recorded performance variables for current time period, determined efficiency rating and efficiency score is associated with the entity 112 and stored on a first database. It would be appreciated that the first database can be present on a cloud/ server.

10

50

20

0

2

Total 335

Table. 3

[0071] In an exemplary embodiment, Table. 3 displays an exemplary representation of performance variables of the entity 112in tabular format. The values of the performance variables are determined and stored on the first database.

[0072] In an embodiment the presentation engine 218 can allow the entity 112 to retrieve the determined efficiency score and the efficiency rating. The extracted values can further be displayed on the entity devices 102. In another embodiment, the organization entity 112 can request for receiving efficiency score and the efficiency rating of the individual entity 112. Then based on the request the values will be extracted from the database and displayed on the entity device 102.

[0073] For example, if an individual entity wants to join an organisation entity then the organisation entity can request for efficiency rating and efficiency score for the individual entity and if, according to the organisation entity the individual entity is appropriate for the post.

[0074] FIG. 3 is a flow diagram illustrating a method for evaluating efficiency parameters of the entity in accordance with an embodiment of the present disclosure.

[0075] In an aspect, the proposed method may be described in general context of computer-executable instructions. Generally, computer-executable instructions can include routines, programs, objects, components, data structures, procedures, modules, functions, etc., that perform particular functions or implement particular abstract data types. The method can also be practised in a distributed computing environment where functions are performed by remote processing devices that are linked through a communications network. In a distributed computing environment, computer-executable instructions may be located in both local and remote computer storage media, including memory storage devices.

[0076] The order in which the method as described is not intended to be construed as a limitation and any number of the described method blocks may be combined in any order to implement the method or alternate methods. Additionally, individual blocks may be deleted from the method without departing from the spirit and scope of the subject matter described herein. Furthermore, the method may be implemented in any suitable hardware, software, firmware, or combination thereof. However, for ease of explanation, in the embodiments described below, the method may be considered to be implemented in the above-described system. [0077] In context of a flow diagram 300, step 302 pertains to receiving data packets of information related to a plurality of performance variables pertaining to performance of the entity which together characterizes the efficiency of the entity, wherein performance variables are received after a predefined time period.

[0078] Further, step 304 pertains to extracting performance variables of the entity stored on a first database for a most recent time period. Further, step 306 pertains to determining relative impact of each performance variable on an efficiency score of the entity by comparing the received performance variables with the extracted performance variables, wherein the determined relative impact of each performance variable of the plurality of the received performance variables enables determining current efficiency score of the entity. Further, the method comprising a step of normalizing the plurality of performance variables for comparing uncommon raw data values among one another. Further, the method comprises allocating an efficiency rating to the entity, wherein the allocated efficiency rating is selected from the plurality of efficiency rating based on the determined efficiency score for the entity.

[0079] FIG. 4 illustrates an exemplary representation of receiving evaluated efficiency score of the entity in accordance with an embodiment of the present disclosure. [0080] In an exemplary implementation 400, a first entity 402 can use his/her computing device 404 for raising a request or a query for fetching of information about other registered entities. In an embodiment, the first entity 402 requesting information can be an organisation, a company, a government organisation, an employer and the like. In another embodiment, the first entity 402 requesting information can be an individual, a candidate, an employee, a user and the like.

[0081] In accordance with an embodiment, Step 1 pertains to transmitting a request from a first entity computing device 404 to a server 406 or a system and the like. It would be appreciated by the person skilled in the art that the server 406 or the system can be located locally or can be located remotely. In an embodiment, the requested information can be requested in a particular format. In one embodiment, the request can pertain to extracting of all the elements of the evaluated entity. In another embodiment, the request can pertain to requesting at least a part of all the elements of the evaluated entity.

[0082] In response to the received request, the server retrieves information from a database and compiles the requested information in requisite format as stated by Step 2. It would be appreciated that the database can be present on a cloud/ server. In another embodiment the server can further pertains to extracting performance variables of the entity stored on the database for a most recent time period for determining efficiency score of the entity. Further. Step 3 pertains to transmitting the compiled information or the determined efficiency score of the entity on the computing device 404 associated with the first entity 402. [0083] FIG. 5 illustrates an exemplary computer system 500 to implement the proposed system in accordance with embodiments of the present disclosure.

[0084] As shown in FIG. 5, computer system 500 can include an external storage device 510, a bus 520, a main memory 530, a read-only memory 540, a mass storage device 550, communication port 560, and a processor 570. A person skilled in the art will appreciate that computer system may include more than one processor and communication ports. Examples of processor 570 include, but are not limited to, an Intel® Itanium® or Itanium 2 processor(s), or AMD® Opteron® or Athlon MP® processor(s), Motorola® lines of processors, FortiSOC™ system on a chip processors or other future processors. Processor 570 may include various modules associated with embodiments of the present invention. Communication port 560 can be any of an RS-232 port for use with a modem based dialup connection, a 10/100 Ethernet port, a Gigabit or 10 Gigabit port using copper or fibre, a serial port, a parallel port, or other existing or future ports. Communication port 560 may be chosen depending on a network, such a Local Area Network (LAN), Wide Area Network (WAN), or any network to which computer system connects.

[0085] Memory 530 can be Random Access Memory (RAM), or any other dynamic storage device commonly known in the art. Read only memory 540 can be any static storage device(s) e.g., but not limited to, a Programmable Read Only Memory (PROM) chips for storing static information e.g., start-up or BIOS instructions for processor 570. Mass storage 550 may be any current or future mass storage solution, which can be used to store information and/or instructions. Exemplary mass storage solutions include, but are not limited to, Parallel Advanced Technology Attachment (PATA) or Serial Advanced Technology Attachment (SATA) hard disk drives or solid-state drives (internal or external, e.g., having Universal Serial Bus (USB) and/or Firewire interfaces), e.g. those available from Seagate (e.g., the Seagate Barracuda 7102 family) or Hitachi (e.g., the Hitachi Deskstar 7K1000), one or more optical discs, Redundant Array of Independent Disks (RAID) storage, e.g. an array of disks (e.g., SATA arrays), available from various vendors including Dot Hill Systems Corp., LaCie, Nexsan Technologies, Inc. and Enhance Technology, Inc.

[0086] Bus 520 communicatively couples processor(s) 570 with the other memory, storage and communication blocks. Bus 520 can be, e.g. a Peripheral Component Interconnect (PCI) / PCI Extended (PCI-X) bus, Small Computer System Interface (SCSI), USB or the like, for connecting expansion cards, drives and other subsystems as well as other buses, such a front side bus (FSB), which connects processor 570 to software system.

[0087] Optionally, operator and administrative interfaces, e.g. a display, keyboard, and a cursor control device, may also be coupled to bus 520 to support direct operator interaction with computer system. Other operator and administrative interfaces can be provided through network connections connected through communication port 560. External storage device 510 can be any kind of external hard-drives, floppy drives, IOMEGA® Zip Drives, Compact Disc - Read Only Memory (CD-ROM), Compact Disc - Re-Writable (CD- RW), Digital Video Disk - Read Only Memory (DVD-ROM). Components described above are meant only to exemplify various possibilities. In no way should the aforementioned exemplary computer system limit the scope of the present disclosure.

[0088] Embodiments of the present disclosure may be implemented entirely hardware, entirely software (including firmware, resident software, micro-code, etc.) or combining software and hardware implementation that may all generally be referred to herein as a “circuit,” “module,” “component,” or “system.” Furthermore, aspects of the present disclosure may take the form of a computer program product comprising one or more computer readable media having computer readable program code embodied thereon.

[0089] Thus, it will be appreciated by those of ordinary skill in the art that the diagrams, schematics, illustrations, and the like represent conceptual views or processes illustrating systems and methods embodying this invention. The functions of the various elements shown in the figures may be provided through the use of dedicated hardware as well as hardware capable of executing associated software. Similarly, any switches shown in the figures are conceptual only. Their function may be carried out through the operation of program logic, through dedicated logic, through the interaction of program control and dedicated logic, or even manually, the particular technique being selectable by the entity implementing this invention. Those of ordinary skill in the art further understand that the exemplary hardware, software, processes, methods, and/or operating systems described herein are for illustrative purposes and, thus, are not intended to be limited to any particular named.

[0090] As used herein, and unless the context dictates otherwise, the term "coupled to" is intended to include both direct coupling (in which two elements that are coupled to each other contact each other) and indirect coupling (in which at least one additional element is located between the two elements). Therefore, the terms "coupled to" and "coupled with" are used synonymously. Within the context of this document terms "coupled to" and "coupled with" are also used euphemistically to mean “communicatively coupled with” over a network, where two or more devices are able to exchange data with each other over the network, possibly via one or more intermediary device.

[0091] It should be apparent to those skilled in the art that many more modifications besides those already described are possible without departing from the inventive concepts herein. The inventive subject matter, therefore, is not to be restricted except in the spirit of the appended claims. Moreover, in interpreting both the specification and the claims, all terms should be interpreted in the broadest possible manner consistent with the context. In particular, the terms “comprises” and “comprising” should be interpreted as referring to elements, components, or steps in a non-exclusive manner, indicating that the referenced elements, components, or steps may be present, or utilized, or combined with other elements, components, or steps that are not expressly referenced. Where the specification claims refers to at least one of something selected from the group consisting of A, B, C .... and N, the text should be interpreted as requiring only one element from the group, not A plus N, or B plus N, etc.

[0092] While the foregoing describes various embodiments of the invention, other and further embodiments of the invention may be devised without departing from the basic scope thereof. The scope of the invention is determined by the claims that follow. The invention is not limited to the described embodiments, versions or examples, which are included to enable a person having ordinary skill in the art to make and use the invention when combined with information and knowledge available to the person having ordinary skill in the art.

ADVANTAGES OF THE PRESENT DISCLOSURE

[0093] The present disclosure provides system and method for evaluating efficiency of an entity.

[0094] The present disclosure provides system and method for evaluating efficiency of an entity that facilitates highlighting achievements of an entity.

[0095] The present disclosure provides system and method for evaluating efficiency of an entity that facilitates selecting procedure of an entity.

[0096] The present disclosure provides system and method for evaluating efficiency of an entity that provides a common platform for facilitating selecting procedure of an entity. [0097] The present disclosure provides system and method for evaluating efficiency of an entity that maintains and continually updates the evaluated efficiency of the entity. [0098] The present disclosure provides system and method for evaluating efficiency of an entity that is time and cost-efficient.

Claims

I Claim:

1. A method for evaluating an entity, said method comprising the steps of: receiving, by one or more processors of a computing device, data packets of information related to a plurality of performance variables pertaining to performance of the entity which together characterize the efficiency of the entity, wherein performance variables are received after a predefined time period; in response to the received data packets of information relates to the plurality of the performance variables, extracting, by the one or more processors, performance variables of the entity stored on a first database for a most recent time-period; and determining, by the one or more processors, relative impact of each performance variable on an efficiency score of the entity by comparing the received performance variables with the extracted performance variables, wherein the determined relative impact of each performance variable of the plurality of the received performance variables enables determining current efficiency score of the entity.

2. The method as claimed in claim 1, wherein if the performance variables for themost recent time-period is not stored on the first database, then the current efficiency score of the entity is determined based on the received performance variables.

3. The method as claimed in claim 1, wherein the efficiency score is a function of an aggregate of the plurality of the performance variables for the entity.

4. The method as claimed in claim 1, wherein the method comprises allocating an efficiency rating to the entity, wherein the allocated rating is selected from the plurality of efficiency rating based on the determined efficiency score for the entity.

5. The method as claimed in claim 1, wherein the method comprises storing the determined efficiency score, and the received plurality of performance variables on the first database.

6. The method as claimed in claim 1, wherein in response to a request to display the evaluation score of the entity, the method comprises extracting the determined evaluation score, and displaying the determined evaluation score of the entity on an entity computing device associated with the entity.

7. The method as claimed in claim 1, wherein the method comprising a step of normalizing the plurality of performance variables for comparing uncommon raw data values among one another.

8. The method as claimed in claim 1, wherein the determined efficiency score, the determined efficiency rating and the performance variables are associated with the entity.

9. A system for evaluating an entity, said system comprising: one or more processors of a computing device; and a memory coupled to the one or more processors and comprising computer readable program code embodied in the memory that is executable by the processor to perform: receiving data packets of information related to a plurality of performance variables pertaining to performance of the entity which together characterize the efficiency of the entity, wherein performance variables are received after a predefined time period; in response to the received data packets of information relates to the plurality of the performance variables, extracting performance variables of the entity stored on a first database for a most recent time-period; and determining relative impact of each performance variable on an efficiency score of the entity by comparing the received performance variables with the extracted performance variables, wherein the determined relative impact of each performance variable of the plurality of the received performance variables enables determining current efficiency score of the entity.

10. The system as claimed in claim 9, wherein if the performance variables formost recent time-period is not stored on the first database, then the current efficiency score of the entity is determined based on the received performance variables.