What does Local Alias in Revit mean ?

[nandhiniRNEYG]

In Manage Link Option there's option Called Local Alias is available! I don't know what its mean & why it's needed as we already have saved path column to refer saved path of the linked file. Can anyone explain in brief regarding this? 
Thanks in advance!

[Alfredo_Medina]

From the Help documents:

Local alias: 

If you are using file-based worksharing and you have linked to a local copy of the Revit model or IFC model instead of linking to the central model, its location displays here.

For example, you may want to link to a local model for improved performance when working with your local copy of the workshared model. When you Sync with Central, other users do not use your local copy of the linked model, nor do they see your local path.

Personal note: I've never used this. I've never needed to link a local copy of the Revit model of the project that I'm working one, instead of the central model.