In this educational video, viewers will learn about the concept of place value and how it determines the value of a digit in a number. The video explains that the position of a digit in a number has a value called place value, and as we move from the ones place to the thousands place, the value of each place is 10 times greater than the place to its right. Viewers will also learn how to decompose numbers and identify the value of digits in different places by using block models. The video emphasizes the importance of understanding place value in order to properly identify the value of each digit in a number.