These might also be useful to reference:
Post #14890,
Post #15277,
Post #16932
In general, I would say subpixels are just a subset of coordinate data relevant to certain games. Finding the coordinate data is what's broadly useful, since it allows you to make nonobvious optimizations.
If the game uses subpixels, you're then optimizing for the subpixel value rather than guessing based on what the movement visually appears to be. This generally allows more granular refinement.
One way I've used subpixel is when you're travelling vertically and your horizontal progression is restricted. With subpixels, you can cut close to corners without bumping into the corner. Basically the idea is, you use the vertical airtime where you're not really progressing to optimize the subpixel position for the next section of the same level.