When you're communicating your brand colors and you use specific names like "Cornflower Blue", you hold people more accountable to your standards. You no longer have to guess what that color is – plug in the hex value of your colors and get the name as defined by some of the biggest in the color industry.
Plug in a hex color value and find it's name as defined by Wikipedia, Crayola, the Color Name Library and Resene (New Zealand's largest paint manufacturing company).
We use this to create style guide color definitions. So, rather than use something like "Color Blue", "Color Light Blue", "Color Darker Blue", we'll name them by what other's have already defined them as, like "Cornflower Blue", "Blue Ribbon", "Jordy Blue" — names defined by pros in the color business.