I've used it in situations where a function creates or sets variables which will be used globally. Here are some examples:
discretes = 0
def use_discretes():
#this global statement is a message to the parser to refer
#to the globally defined identifier "discretes"
global discretes
if using_real_hardware():
discretes = 1
...
or
file1.py:
def setup():
global DISP1, DISP2, DISP3
DISP1 = grab_handle('display_1')
DISP2 = grab_handle('display_2')
DISP3 = grab_handle('display_3')
...
file2.py:
import file1
file1.setup()
#file1.DISP1 DOES NOT EXIST until after setup() is called.
file1.DISP1.resolution = 1024, 768