The Kappa Statistic is a measure used to assess the agreement between two raters or classification systems. It accounts for the agreement occurring by chance, providing a more accurate evaluation of how much the raters agree beyond random chance. The value of the Kappa Statistic ranges from -1 to 1, where 1 indicates perfect agreement, 0 indicates no agreement beyond chance, and negative values suggest less agreement than expected. Kappa is commonly used in fields like medicine, psychology, and machine learning to evaluate the reliability of categorical data. It helps researchers and practitioners understand the consistency of their assessments, making it a valuable tool for improving decision-making processes.