How can rounding a number to a specific value be useful in PHP programming?

When working with numerical data in PHP programming, it is often necessary to round numbers to a specific value for various reasons such as displaying currency values, limiting decimal places, or simplifying calculations. This can be achieved using PHP's built-in round() function, which allows you to specify the precision to which the number should be rounded.

$number = 10.456;
$rounded_number = round($number, 2); // rounds the number to 2 decimal places
echo $rounded_number; // Output: 10.46