The redirect allows you to create a page on the web that will redirect a user to a different location (most often a page outside the site).
This can also be used to create short URLs that are easy to print and remember that will redirect to a longer, more complex URL. A redirect can also show up in the navigation of your site.
For example, if the URL to a webpage was: www.plu.edu/this-is-a-very-long-link-that-needs-to-have-a-redirect, you could create a Redirect page that has the URL of www.plu.edu/long-link. This makes it easier for users to remember the link to the page, and it looks cleaner than having a really long link.