What is the purpose of the value field when creating a grade rate and how is it used?

Summary:

Our team is trying to figure out the purpose of the value field when creating a grade rate. Most of the time we use the ranges which is shown on the salary page for someone to pick a salary amount within the range but when we use the value instead it does not show up anywhere. So we are wondering how this is actually used in the system and the intended functionality.

We also don't see the value field anywhere in the HCM Design Studio page to unhide.

Content (please ensure you mask any confidential information):

Version (include the version you are using, if applicable):