Yes, now a days every system administrator needs it.
Some examples of practical IT applications:
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Hosting - all ranges on the same platform, from low-level shared to medium-power virtual server to powerful
dedicated servers - seamless scaling up in the same safe virtual private server.
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Server consolidation - put together your existing servers and use more powerful and reliable hardware.
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Increase availability - keep an up-to-date copy of your virtual private server on another server, and start it in seconds in case of failure
*
Education - each student gets its own virtual server with root access
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Testing - safe experimentation on the machine that runs another services
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Clean sandbox - install each service in its own freshly created Virtual Private Server, and you will never have to resolve dependency problems
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Improve network services security - run each server in its own Virtual Private Server. If the application has a security hole, only this particular virtual private server will be compromised, never the whole system.
Importance of OpenVz technology.
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