What is the significance of Latus Rectum?

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So I just completed the chapter Conic Sections and the one thing I could not understand is what is the use of Latus Rectum? It is defined as " Line segment passing through the focus and parallel to directrix." I've done questions like what is the length of latus rectum when some values are given. Is it just a line with no significance? I mean there can be a line in parabola parallel to directrix with say 8 times the focus? Is it any less significant than Latus rectum?