Fig. 2.

For any decision task, there is an information value chain that starts with a user interacting with an information source, and goes through many steps before outcomes are observed in the world. The number of events is typically higher earlier in the chain, and the value of events is higher further down the chain. Combining event frequency (or probability) with event value (or utility) provides the expected utility of each point in the chain. (From Guide to Health Informatics (3rd Ed.) [4])