The right answer is...... YES.
It is needed along with the tach to figure % of power. It lets you know if the motor is providing full power. And will also let you know of the prop pitch is correct for your aircraft.
It can also show you that your top end performance is due to drag and not engine performance............... example, no wheel pants and not getting book speeds.
Or running a 150 hp prop on a 160. Or the other way around. Yes, you need one.