Intensity Factor is telling you about, how intense was your workout. Comparing your weighted average power and actual form gave you a perfect number to analyze. You can find out that IF will be between <0.50 to 1.15 or even more on short efforts.
What do those numbers mean?
0.60 – 0.69 is a recovery ride.
0.70 – 0.79 is an endurance workout.
0.80 – 0.89 is Sweet Spot ride, long road race.
0.90 – 1.04 is a road race, time trial.
1.05 – 1.15 is Criterium, short time trial.
> 1.16 is a track race.