It is a library and backup for your photographs. If set up correctly it will also back up your photographs to another location (ie external drive).
I used to use Bridge and Photoshop for everything. Now I use Lightroom for 95+% of what I do. It's an incredible program and even more so when you consider the price. import, batch edit, single edit, compare, tag, rate, develop, virtual copies, non destructive editing, exporting, watermarks, web module, geotagging, etc. I love it.
My hope is that they give the Web module a bit more love in the next version as The Turning Gate plugins are doing all the heavy lifting in that module for me and I'm sure if Adobe put some effort in things could be even better.
I don't want to highjack the thread but are you using it as standalone with your existing version of photoshop or are you using the CC package?
Standalone with an old Photoshop at the moment. I'm sorely tempted by the CC offer as £105 for a year of both is a good deal as far as I'm concerned. I'm just not sure what they'll be like in 12 months when the contract expires and if they'll jack that price up and basically leave everyone with either no Lightroom, going back to their old versions (where I'm not sure if the catalogues will work), or stumping up for a standalone.
If there was some kind of guarantee that they won't hike the price by more than say 10% I'd have leaped on it when I saw it a few weeks back.
Elements has quite the most horrible user interface I have ever experienced, and in the past I've always preferred PaintShopPro, which also has the benefit of much better 16-bit image support than Elements.also don't forget elements - which does everything an amateur (and many proffesionals) will need from photoshop at a fraction of the cost of CS (also CS is now only available via cloud)
Personally I use LR for Raw conversion, and Elephants for nearly everrything else ( Theres also free stuff like GIMP and Irfanview to consider)
Elements has quite the most horrible user interface I have ever experienced, and in the past I've always preferred PaintShopPro, which also has the benefit of much better 16-bit image support than Elements.
BTW, CS is not "only available via cloud" - I bought the stand-alone edition only yesterday.
Our newest release — including Photoshop® CC and Illustrator® CC — is available only in Adobe® Creative Cloud
I suggest you look more carefully, 5 items down this page you can buy the full, stand alone, perpetually licensed edition of Photoshop CS6.The elements interface is virtually the same as CS (if you have an upto date copy of course), and CS is only available via cloud - see http://www.adobe.com/uk/products/cs6.html
If you bought a stand alone copy yesterday it must be an older version