What is the pactical significance of standardized testing?

The benefits of standardized testing are constantly debated; while the system was a given for decades, it is often criticized as unfair, inaccurate and in need of updating to reflect reality.

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One of the problems is that coaching can often boost scores significantly. Moreover, people who take a lot of tests have a significant advantage over people who do not. In other Words, the tests test other things in addition to what they claim to test.