In this video, students will learn how to name decimal numbers through the thousandths place by understanding the concept of place value. The video emphasizes the common mistake of assuming all decimals are read the same and reminds students to consider the place value of the last digit, even if it is a zero. By breaking the decimal number into two parts, the whole number part and the fraction part, students will be able to confidently name decimal numbers that have digits on both sides of the decimal point.