Here's how to use it (feel free to edit and adapt it to your own classroom). Type the objectives you have for the students during a particular unit or week. Edit the information at the top of the chart regarding class and unit. Complete the grade scale at the bottom and edit the info if needed. Print it out and write in the students names sideways in the top row.
Use activities or exit slips to gather your data. Give each student the number they earned for the objective. Highlight the students who got a 2 or 1 or circle the box that they got a 2 or 1 so you can easily tell who needs some remediation.
Come up with a plan and follow it.

Using data to drive instruction is so important. While you are working with a small group of students you could have another group make corrections on their assignments, or even create a project to introduce the next unit to the class. You might even decide to have the 3's and 4's teach or help the 2's and 1's.