Introduction to Multimedia Evaluation

According to Lee/Owens there are four levels of evaluation: Level 1 Reaction, Level 2 Knowledge, Level 3 Performance, and Level 4 Impact.
Reaction measures the response of the trainee based upon how they feel the training will help them be better at their job. Knowledge measures the level of achievement of the course and skills for which the course was for. Performance measures changes in the student as a result of using what was learned in the course on their job over a period of time. Impact measures the businesses return on investments based on the skills that were learned from the training.

Lee, W. W., & Owens, D. L. (2004). Multimedia-based instructional design: Computer-based training, web-based training, distance broadcast training, performance-based solutions. San Francisco, CA: Pfeiffer.