From Wikipedia.....
Big O notation is useful when analyzing algorithms for efficiency. For example, the time (or the number of steps) it takes to complete a problem of size n might be found to be T(n) = 4n² − 2n + 2.
As n grows large, the n² term will come to dominate, so that all other terms can be neglected — for instance when n = 500, the term 4n² is 1000 times as large as the 2n term. Ignoring the latter would have negligible effect on the expression's value for most purposes.
Obviously I have never used it..