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This project explores and illustrates the value of systems models to explore the complex, dynamic nature of educational policies and practices, including key players, factors, and interactions and relationships that are currently not modeled or measured in educational research. This paper describes an effort to mathematically model a formative assessment system, exploring implications for decision-making and data use. Drawing on an extensive literature review and expert panels, we developed a systems model of formative assessment with an initial runnable simulation. The model and prototype provide a new way for practitioners to examine data they have yet to explore and demonstrate how data can work together to create a more comprehensive view of what aspects of practices and policies work.