Hi Andy,
I imagine it's important because it has become an authority - and it has become an authority because it is the best known of it's kind (I actually do not know other), it is easy to use, and everybody can interprete the numbers.
If two people can't decide what is better - google or yahoo - then at least they can see which has the better numbers. Easy, though statistics is never more than half of the truth :-)
Cheers,
Bjarne
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