The important significance of dipole moment are as follows:

1. Predicting the nature of the molecules- that is molecules with zero dipole moment are non polar while the molecule with specific dipole moment are polar in nature.
2. Determining the shape of the molecule-If a molecule has a specific dipole moment then its shape will not be symmetrical,they may be bent or angular & the molecule with zero dipole moment will be symmetrical & has linear shape.
3. Comparing the polarities of the molecules- greater the dipole moment value, higher the polarity & vis-a-vic.