What is the use of "Story Value" in Jira? And how it is different from "Story Points"?

[Rakesh Sharma]

Please help me to understand the use of Jira field 'Story Value'. As of now, we use only 'Story Points' to estimate a particular story or task. From a long time I had question about purpose and use of field 'Story value'. I tried to find on multiple sources including here in atlassian community, but no concrete info was available. If any of you have used this field or knows its use, please share some knowledge and help me to understand this difference of terms. 

[HansCronau · Accepted solution]

@Nic Brough -Adaptavist-already gave the technically correct answer. I can only offer an educated guess. Product owners like to estimate both costs and benefits. This way they can prioritise stories / issues. Story Points are typically used to express the complexity / cost of an issue. Your Story Value field may have been added for the expected benefit of a story.

[Nic Brough -Adaptavist-]

That would be exactly my guess as to why an admin added the new field.

[Rakesh Sharma]

Thanks @HansCronau and @Nic Brough -Adaptavist-
I was also thinking on the same lines. If whatever we are thinking is correct, so can we conclude that Story Points are given by Developers for the cost/complexity related estimation and
Story Value is given by Product Owner for benefit from PBI related estimation. 
So my next question is how product owner will decide a number for Story Value? 
Have you tried any way to put a value on PBI from POs perspective? 

[Nic Brough -Adaptavist-]

I've seen that done in lots of different ways.  It tends to work very differently in places - small places with highly focussed teams and large corporates with many interacting components, it's very differnt ways needed to score values.

All I can really tell you is to get your POs to work together so that they all understand and use Story Value in the same way.  I don't know if your developers need to care about it either - again, some places might, others just say "the PO has used it to help prioritise the backlog with us, but we don't need to know how"

[Nic Brough -Adaptavist-]

I think you'll need to ask the person who added the field to your system.  It's not a standard field name in Jira, so one of your admins must have added a custom field for it.