The Default Value property of a field allows you to provide a default value for the field. When you set a default value of a field, users will see that value by default whenever they create a new entry.
The advantage of using this property is when you don’t want to enter constant data every time while creating multiple entries.
For example, for a Location (Multi Line Textbox) field you won’t need to enter the same data every time you create an entry. Instead, you can use the Default Value property and enter the data of the Location field while configuring the content type.
Note: You can change the default value of the field while creating an entry.