Student evaluation of teaching (SET) is now commonplace in many universities internationally. While much effort has been devoted to examining the statistical validity of SET instruments, there has been limited examination of the methodological and consequential validity (together referred to as "utility") of the ways in which SET data are used. This paper examines the SET system at Deakin University from the perspective of utility. It draws on publicly available SET results for an entire annual cycle of unit offerings. Consideration is given to the representativeness of the data produced, and to the utility of the data reported, by the system. While this investigation focuses on the SET system currently employed at Deakin University, it offers both an analysis methodology and conclusions that can be applied more generally. (Contains 2 tables and 3 figures.)