In brief
The signal helps the control to coordinate the operation of the engine and, in appropriate systems, the phases.
Useful to know
The camshaft position sensor shall take into account its engine control position. Bosch describes use in injection, ignition and variable phase control. In the solution presented, the reporting uses the Hall effect. [1]
The camshaft and crankshaft are not the same component. Accordingly, their sensors have different tasks, although the information is used jointly. When reading error code, the exact words "camshaft" and "crankshaft" are important.
A code that mentions position or consistency is not an automatic order for a new sensor. The diagnosis should consider the specific signal, the connection and the state of the system. For the reader, the most useful beginning is to name the correct shaft and the function of the signal, instead of collecting all the rotating parts under the common "turns sensor".
Sources
For further detail and to check the information: