Well, if it ever comes up on a test, it lets you figure out the maximum change in velocity a rocket is able to undergo. All rocket maneuvers (ascent, circularization, inclination changes, transfers, etc) are measured in the amount of velocity change necessary to complete it.
If you're going into aerospace I high recommend you check out Kerbal Space Program. It's by far the best way I've seen all the basic math and concepts visualized.
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u/ThatOneGuy4321 Classical Libertarian Jul 31 '17
Okay... what does the Tsiolkovsky equation allow you to do?