IC50 is a very important parameter especially when comparing the behavior of two or more sample on a given subject. IC50 is a measure of the half inhibitory concentration of the sample on a biological process.
Normally when you make a curve, you have an increase in absorbance with increasing concentrations. At some point when you want to compare your samples, it makes no meaning or very difficult to say which is better in inhibiting or scavenging. But if you calculate your IC50, you will be able to know which sample is better off. IC50 is calculated from same values you used in making the curve,. The lower the IC50 value the better or greater the scavenging ability. Please see my comment in the link below to see how to calculate using probit manually.