VAULT allows us to find where an IPT is used. That being said, if the IPT has Model States, there is no way to know where a specific Model State is used. This could be helpful to find if a part is OBSOLETE or not or which IAM to open if you make a significant modification to only 1 of the model state.
The other way around could also be useful. Figuring in which Model State an IPT is used, without having to open the inventor file and look at the EXCEL spreadsheet