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Why is it useful for the (relative) Picard functor to be representable?

I have been studying Chapter 8 of Neron models by Bosch et al. The first part deals with the relative Picard functor. A lot of work is done to make it representable. My question would be why this work is done exactly, i.e.:

Why is it useful for the Picard functor to be representable?

I do not have a great overview of this subject, hence I cannot find a use myself.