Enhance the quality of the music and audio that is played through your speakers.
Produce commercial-quality DJ mixes.
Capture audio from microphone and change the voice to that of an old man or a child.
Perform audio measurements like distortion, signal to noise ratio, and bandwidth on audio players.
Record, arrange, modify, and mix multi track waveform audio files.
Do with sampled loops what you can do with beats programmed from individual drum sounds.