Rod Edwards does a bit of analysis:
Again, this is another one of those little bits of functionality that has been present since year dot. Unfortunately, it seems to be forgotten by many in the great game of query investigation.
Being able to see the IO patterns of a query that we’re running to help us see where the heavy lifting is occurring is really useful in allowing us to get the bottom of problems quickly, or see the benefits of our tuning efforts (or otherwise!).
One neat thing I did not know about before was a product called Statistics Reporter, an extension for SQL Server Management Studio that parses the results from time and I/O statistics results. I like Richie Rump’s Statistics Parser website, but the idea of having something built-in is pretty nice.