I'm sure you've heard of this. Some people say it needs to be done after every mod to achieve the maximum amount of power gains from said mod. But in reality, that's not true. The ECU is constantly updating and checking itself all the time. So the first time you start up your car after the new mod, the ECU has already noticed a difference and has begun calculating a new optimal fuel curve, etc.
However, there is a time when it is useful, and that is when you have a CEL (Check Engine Light). When you see your CEL light in your dash come on, your ECU will have a LED that flashes a set amount of times for the error code that was generated. You can view more information on this by clicking here. Now, let's say you have a CEL, and you've fixed the cause of it. You go to start your car back up and guess what, you still have that CEL! No worries. To clear out that old code, you have to reset your ECU. To do this, pop your hood and locate the fuse box. It should be near the passenger side towards the rear of the motor. Open up the box and find the fuse for the ECU. Pull it out and wait a minute or two. Then reinsert it back into its original location and go start your car back up. You should notice the CEL not turning on. Now just put your cover back on the fuse box and you're good to go. If you are unable to find the ECU fuse, you can simply disconnect your battery (negative side only) for a minute or two and then reconnect it to achieve the same effect. The downside to doing it this way is that all your radio presets and your clock will be erased and you'll have to reset them.