Often admins would like a way to recast certain columns in an application in useful ways, without having a major impact on the view's content or the like.
It'd be great if the developer could allow someone to change the formula in a profile, and have that affect a view column.
Aside, this is what I've tried to do with a "user-definable" column. However, this "user-definable" column feature seems quite hard to pull off. I haven't been very successful using it. It'd be great if this feature were MUCH more straightforward: you specify a profile and a field name with the formula as a *text* field, and that's it.