Connectify Hotspot turns your PC into a Wi-Fi hotspot, letting other computers, smartphones, and tablets share your connection.
Make a connection
Connectify Hotspot recognizes your PC's network card and automatically configures it as a hotspot, assigning you a network name and password. Clicking on "Start Hotspot" will make your access point operational, letting any nearby device with the password connect to it. The 'Clients' tab will show you which devices are currently connected to your hotspot.
It works exactly as intended without any further input, although you can configure options such as the password and (on the paid for version) the network name. Once set up you can manage connections, as well as tracking peers and previously connected devices.
Finding the need
Is Connectify really useful? Your computer must be Wi-Fi enabled to be used as a hotspot, as must all the connected devices. So, if you have a wireless router, it seems unnecessary. It is possible you only have a wired connect at home, or want to set up a more easily managed wireless network, but for most people I know Connectify Hotspot has only a handful of uses.
That said, one function of Connectify Hotspot that could be quietly useful for every day use is that you can share files and folders with others on your network through a simple drag-and-drop interface.
If it's for you
Connectify Hotspot is effortless to use, and does exactly what it claims to. I have no use for it, but if you do then it is ideal.