Why is this important?

Preserving an Intent to File allows you to "hold" a date with the VA that ideally will shorten the time to your decision and will serve as the start date for any compensation you receive.

For example, if you initiate a claim with a Veteran Service Officer in August, but then something interrupts your pursuit of your claim (new job, move, death in the family, etc.), the Veteran Service Officer will be able to hold August as your effective start date. That means that no matter when you finally submit your claim, the VA will strive to award a decision within approximately 120 days of your August start date and any compensation you receive will be back-dated to August.