Reviews and ratings of any product or service are great influencers for deciding on owning them. Like, while purchasing anything from e-com sites, we go through the review and rating section of same and gather a fair idea of it in our mind, and that feedback drives our purchasing behavior towards it.
Similarly, corporates and businesses are rated by agencies like CRISIL etc. while, even as individuals, our credit-worthiness has a CIBIL score which decides on getting approvals for any loan and/or other financial requirements through life.
Educational institutes for degree/diploma courses that are recognised by govt. are rated by NAAC as A+ / A++ or by AICTE Rankings.
Now, a similar grading mechanism for individual teachers and institutes is finally here as T-Score.