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If you are just talking about normal bounties, they are just there to give you more Armor Spheres and Points. You register a bounty, do whatever it's asking (Hunt Large Monster, Hunt Small Monster, Gather from Bonepiles, etc.) then you come back to grab your reward... Rinse and repeat.
Investigations are basically just quests with extra rewards.
Example, spent an hour farming research points via a basic expedition in Hoarfrost today and found tempered footprints while gathering - thus tempered monster investigation was added to the list. You'll generate countless invests just by playing, eg. breaking monster parts and somesuch.
If all investigations were treated like open bounties, people just casually playing would be netting an obscene amount of passive rewards just by doing whatever. As people have said, the way it works now keeps it structured and allows players to go for specifics. It's not perfect, but it works.
Truthfully, the only thing you really should keep an eye on are Limited Bounties (for your Wyverian Prints) - the rest are just there for you to gain additional rewards whilst farming what you want. Eg. If you wanted a Fulgar Anjanath plate for a specific layered armor or set, you could start an investigation (which is infinitely better than going off on a standard expedition).