The Noether normalization lemma states that if $k$ is a field, and $A$ a finitely generated $k$-algebra, then there exist elements $z_1,...,z_m \in A$ such that
(i) $z_1,...,z_m$ are algebraically independent over $k$
(ii) $A$ is finite over $B=k[z_1,...,z_m]$.
I understand the theorem and its proof, but I am having troubles seeing its importance. What does this actually tell us? Most importantly, are there any strong statements that suddenly becomes trivial consequences of the theorem? At the moment it's just a statement to me; I don't see it in a context. Any help?
If you have found the Noether Normalization Lemma in a commutative algebra book, just read on. You will see many applications, for example in dimension theory. The Lemma implies for example the fundamental formula $\dim(X)=\mathrm{trdeg}(K(X)/k)$ for affine varieties $X$ over a field $k$, and that $\dim(X \times_k Y) = \dim(X) + \dim(Y)$ if $X,Y$ are affine varieties over $k$. The Lemma is the main ingredient in the proof of Zariski's Lemma, which in turn implies Hilbert's Nullstellensatz.
By the way, the Lemma has a nice geometric interpretation: Every affine variety over a field has a finite map to some affine space $\mathbb{A}^n$ (and this $n$ is the dimension of the variety). See SE/986279 for a specific example. In Eisenbud's book on commutative algebra you will also find a finer version which starts with a sequence of subvarieties which then corresponds to the sequence $\mathbb{A}^0 \subseteq \mathbb{A}^1 \subseteq \dotsc \subseteq \mathbb{A}^n$.