Method Name: selectByValue
Syntax: select.selectByValue(Value);
Purpose: To Select the options based on value, matching with the argument given by user.

The below is the sample html code Example:
HTML Code:

<title>Select Example by Index value</title>
<select name="Months"><option value="0" selected=""> Please select</option>
<option value="1">Jan</option>
<option value="2">Feb</option>
<option value="3">Mar</option>
<option value="4">Apr</option>
<option value="5">May</option>
<option value="6">Jun</option>
<option value="7">Jul</option>
<option value="8">Aug</option>
<option value="9">Sept</option>
<option value="10">Oct</option>
<option value="11">Nov</option>
<option value="12">Dec</option>
</select>

Webdriver code for Selecting a Value using selectByValue(Value);

public class selectByValueExample {
public static void main(String args[]) {
WebDriver driver = new FirefoxDriver () ;
driver.manage().window().maximize();
driver.get("file:///C:/Users/Piyush/Desktop/Months.html");
WebElement element=driver.findElement(By.name("Months"));
Select se=new Select(element);
se.selectByValue("Aug");
}
}