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Hi. This is the BEST and ONLY video GMAT Club has on its Channel for IR. But with over 100,000 views, it is clearly a helpful video!
The importance of IR has generally been quite low. We are still not sure if it is used for any sort of evaluation and short of saying it is not used for anything, schools still are not reporting or providing any information about use or averages, thus generally making it pretty low on the importance scale.