Why is it necessary to determine if a reactant is a limiting reagent in a reaction

The limiting reagent refers to the reagent in a multipotent reaction, which will get exhausted as the reaction advances towards completion. In other words, if a chemical reaction exhibits various reagents, then the limiting reagent is the reagent, which will become exhausted first, parting some amount of the other reactants remaining. This is essential to determine, as the concentration of the limiting reagent, which is found in the reaction, will predict that how much product is generated.