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What is the importance of PageRank to our search engine optimization efforts?
Page Rank was important until Google disabled it some years ago. Now you will have to focus on Domain Authority and Page Authority. Some say page rank is used by Google for internal ranking of websites (not visible to the people).
Domain Authority and Page Authority were developed by Moz and measured in the scale of 1 to 100. Having higher DA and PA means higher position on search engines.
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Page Rank is the number that is attached to your site which was formulated by the Google crawlers. The main purpose of the Page Rank is for the Google crawlers to easily identify the type of site if it has a high ranking in the search list. But take note that the Page Rank is only applicable to Google and not in other search engines. By the way Google had stopped using the page rank.