ifelse-value is a primitive that allows us to quickly and concisely check a number of conditions and pick a value accordingly. This primitive helps us not write many consecutive if or ifelse statements. 
For example, if we wanted to check which of the four quadrants of the world a given turtle is in, our first option is to write a code as follows:
to-report where-am-i
  if xcor > 0 and ycor > 0 [
        report "upper-right"
  ]
  if xcor < 0 and ycor > 0 [
        report "upper-left"
  ]
  if xcor < 0 and ycor < 0 [
        report "lower-left"
  ]
  if xcor > 0 and ycor < 0 [
        report "lower-right"
  ]  
end
However, this many if statements make it hard to read the code. Instead, we can use the ifelse-value primitive as follows to make a much more concise code:
to-report where-am-i
  report (ifelse-value
        xcor > 0 and ycor > 0 ["upper-right"]
        xcor < 0 and ycor > 0 ["upper-left"]
        xcor < 0 and ycor < 0 ["lower-left"]
        ["lower-right"] ; if none of the conditions are true
  )
end
Things to keep in mind when using ifelse-value: 
ifelse-value within parentheses ().else statement, specifying what will happen if none of the conditions are true. You can also omit this final condition.In the model example below, we have six dice shapes. Every time we click the roll-all button, each turtle picks a random number between 1 to 6. Then, we use the ifelse-value primitive to pick the correct turtle shape to represent the corresponding die value.
Once you mastered the ifelse-value primitive, don't stop there. Check out the resources below to improve your NetLogo skills. 
ifelse-value primitive:ifCarries out a provided set of rules (code) if a given condition is true. Does nothing if a given condition is false.