The AUC* or concordance statistic c is the most commonly used measure for diagnostic accuracy of quantitative tests. It is a discrimination measure which tells us how well we can classify patients in two groups: those with and those without the outcome of interest. Since the measure is based on ranks, it is not sensitive to systematic errors in the calibration of the quantitative tests.
It is very well known that a test with no better accuracy than chance has an AUC of 0.5, and a test with perfect accuracy has an AUC of 1. But what is the exact interpretation of an AUC of for example 0.88? Did you know that the AUC is completely equivalent with the Mann-Whitney U test statistic?
*AUC: the Area Under the Curve (AUC) of the Receiver Operating Characteristic (ROC) curve.