Denver (PRWEB) July 13, 2005
After more than 15 years of research, testing and market validation, Knowledge Factor, Inc., today announced the release of its Confidence-Based Assessment (CBA) , a tool that measures competency based not only on what a person knows, but also on the personÂs confidence in that knowledge. Knowledge FactorÂs patented process substantially reduces, and can even eliminate, guessing that skews the results of most other assessments and puts organizations at risk of not knowing the competency level of employees.
ÂResearch has proven that confidence is the best predictor of performance Â that people only act upon information they confidently understand,Â said Pat Engstrom, CEO of Knowledge Factor. ÂBy measuring both confidence and knowledge with the CBA, organizations can know with a high degree of certainty how competent their employees are, and can be better positioned to reduce risks and maximize productivity and revenues.Â
Traditional assessments measure only how many questions someone answers correctly, making it impossible to distinguish between a person guessing correctly and one who answers correctly with confidence. CBA differentiates between:
- Correct answers that are answered with confidence, indicating competency.
- Correct answers that are answered with doubt.
- Correct answers that are total guesses, equivalent to no knowledge.
- Incorrect answers that are answered with confidence, indicating misinformation.
The CBA can capture and validate knowledge confidence because of the unique structure of its multiple choice questions and detailed analysis.
Upon the completion of an assessment, the user and his or her management can view a summary of the userÂs competency profile, providing immediate identification of confidently held misinformation, unknowns, doubts and knowledge competency.
Knowledge FactorÂs Offerings
Utilizing the Confidence-Based Assessment as the centerpiece for all of its products and services, Knowledge Factor offers:
- A Competency Audit which identifies areas of risk where training needs to be intensified within an enterprise
- The Confidence-Based Assessment as a standalone competence assessment and certification tool.
- The Confidence-Based Assessment & Learning Suite, which identifies the knowledge gaps using the CBA, and also remediates those gaps rapidly and effectively.
ÂCompanies spend millions of dollars each year on the best training and technology available, yet they have no way of knowing how effective that investment is,Â said Engstrom. ÂFor the first time, with the CBA we can measure the competency of employees. We can validate the effectiveness of a companyÂs existing training, determine how to fill critical knowledge gaps to improve productivity and compliance, increase employee safety or reduce the risk of costly litigation.Â
Knowledge Factor, Inc.
Founded in 2000, Denver-based Knowledge Factor is a leader in competency assessment and remediation. In 2003, the Company became the owner of a patented and effective methodology it calls Confidence-Based Assessment, or CBA, which has become the foundation for its unique offerings. The CompanyÂs CBA&L suite of products measures competency, certifies learning and provides a rapid and targeted learning solution to organizations and individuals. For more information, go to http://www.knowledgefactor.com.
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