Importance:
Google’s search counsel is a free service offered by google that helps you monitor where your website falls in google search results. This is an extremely useful tool for marketers to see where they are at and what they need to work on to get their name out there. Both current and legacy reports allow you to dive deeper and receive information regarding your website.
Current:
There are many current reports and tools offered by GSC that are available for anyone to use. For example, the performance report allows you to “explore how many people saw and clicked on your site in Google Search, what queries showed your site in Search, and your average search position.” Clearly this can give marketers a huge advantage and help bring them success. There is also a URL inspection tool that can help eliminate any errors with your URL. Those are just two of many examples that can help enhance your digital marketing experience.
Legacy:
Legacy reports share a similar importance to the current reports. However, there are no replacements for them on the new GSC. They can still be reached through links provided on the help page, but google is still working on how to replace these tools. An example of a legacy tool is international targeting which deals with multiple different languages and things of that nature. There is also a crawl rate setting that yo can lower crawling traffic to your site.
https://support.google.com/webmasters/answer/9133276?hl=en&ref_topic=4558844