Anyone interested in secondary education will be hearing more about Progress 8 over the coming months, especially when the league tables come out in January.
I think this link is a good explanation of how it will work:
www.tes.com.c.tes.ent.platform.sh/sites/default/files/progress_8_dps_2.pdf
And why it's not necessarily a measure of school effectiveness:
educationdatalab.org.uk/2015/05/why-do-pupils-at-schools-with-the-most-able-intakes-tend-to-make-the-most-progress/
And a criticism of the calculations:
headguruteacher.com/2015/05/02/progress-8-looks-like-data-garbage-to-me/
Also, please remember that because of confidence intervals, you CANNOT say that a school that has a progress 8 score of 1 is better than a school that has a score of 0.9.