Shock travel sensors are very useful. The data isn't something that is as obvious as for example DSRPM. With a math channel, taking the derivitive of shock travel, shock velocity can be calculated. This data is very important if you are working with a shock manufacturer.
Simpler uses are noticing changes in ride height from start to finish line, calculating downforce, learning the effects of tire shake on a shock, and squat at the hit.
I have spent ten years working with many top PS teams as their data acq guy. You couldn't pay a team enough money to go without shock data. Its money well spent.