Here is a latest query and explanation put forth by a user of the forum
http://www.webmaster-talk.com/ in their SEO section.

"Alexa rank is a great intelligence tool for positioning your web site in your niche.
While page rank shows importance, alexa rank shows popularity.Together, makes more
accurate measures for your web site."

Here is one comment by "Gringo" posted on Feb 20th which is counter to the
above statement.There are other comments in the post supporting the comment
posted by Gringo.But there is another comment posted by "t3phop" on Feb 25th who says
the following :

"Alexa is important for webmasters. One of the basis of analysis if the website is working well
in terms of traffic and visitors".

For a clear summary of the other comments,have a look at this forum
http://www.webmaster-talk.com/seo-talk-forum/168536-is-alexa-rank-import...