When coding you often use the names of different objects: filenames, fields, ranges, etcetera. If you know a name you can simply type it, but selecting it instead does have its advantages:

Insert name of file or folder

Often names are related to the current locatie of your application file:

A convenient way to get a file or folder path is by using the file (or folder) selection dialog

Click this Start demo screencast to see how to insert a file name.Name file string selection demo