I am unclear about the practical benefit of named entity recognition. Specifically, I don't get how this entity is any better than a string representation of the same object. Let's take the popular example of movies. I can create a model where each row is a movie. Any attribute you can have in a recommendation system can just as easily be a column in my movie table: release date, actors, genre, etc. If a user does a search for 'animation' - or even if they don't, but you know from that user's history that they saw The Lion King, any decent search engine could pull up Moana as a recommendation, so how is a named entity any better?
Or you pull a named entity out of a text document. Great, but now what? Isn't it still just a string, which can be assigned as an object with it's own unique dict of values, like genre and release date? I assume there are benefits over strings, or it wouldn't be such a big deal to so many people. I just don't know what those benefits are.