For the average user, a compressed or slightly altered file might work fine in an emulator. However, for historians and developers, bit-perfect copies are essential:
Multiple users dump the same game to verify checksums against each other, ensuring the data is identical to the retail master.
Emulation front-ends (like RetroArch, LaunchBox) and ROM managers (like ClrMamePro) use the Redump database to your personal disc image collection, ensuring you have clean, complete, and correctly named dumps.