Hi, It is primarily for downloading firmware updates for the platform updates feature. It also allows you to upload a tech support report in case of a failure. In your situation there is not a need for a dedicated IP address for it. 
Hello, In setting up some new Dell R730 servers, I see there is an option to configure a dedicated IP address for the Lifecycle Controller, and it appears to use one of the Onboard NIC ports.  I am accustomed to always configuring a dedicated IP address for iDRAC Enterprise, but I've never configured a dedicated IP address for the Lifecycle Controller.  Could someone explain the purpose of assigning another dedicated IP for the LC?  What, specifically, does this provide in terms of functionality/capabilities that I cannot already access via iDRAC?  Also, I am using VMware vSphere, along with the Dell OpenManage Integration for VMware vCenter (OMIVV), which allows me to perform firmware updating and basic monitoring via vCenter.  I am curious if I am missing out on anything from a dedicated LC IP address.  Thanks, Bill
Purpose of Lifecycle Controller IP Address?