Righty
I'll try and explain a few interesting bits (just put some music on for this...)
Before I start I'll do a little physics/chemisty lesson for some of you.
Hopefully you have all heard of Electrons, Protons and Neutrons, look around you, they are what makes up all the stuff you come into contact with on a daily basis and what a vast majority of the Universe is made from.
However it was discovered that Protons and Neutrons are made up of other much smaller particles, they are called Quarks and the matter around us at the moment is made up of combination's of Up (u) and Down (d) quarks. We have yet to see the electron split into anything smaller and believe it to solid and not made up of anything smaller.
I've just listed 3 out of the 4 of what we call the first generation of sub-atomic particles, there is one other, called the electron-neutrino, there are millions upon millions of these extremely small and almost (but not quite) massless particles flying around you at the moment, they don't do much apart from some rather interesting "mixing" with other types of neutrino's, which I won't go into.
So Quarks = u and d
and Leptons = electrons and electron-neutrino
Which leads me to the other generations of particles.
You all know or have heard about Einstein's theory of relativity I hope and that energy can be converted in matter as a function of the speed of light squared, E = mc^2.
Well, we use something very similar E^2 = (p^2*c^2)+(m^2*c^4), don't worry about the details unless you want to go read about it
here, it's just another form of the equation that we use.
Using the LHC we are going smash particles together with a very high energy, allowing the possibility to create new higher mass particles that haven't existed in our universe since it's inception. These particles don't linger around like the matter we see today, they are unstable particles that after, what is normally a very short time, decay into less energetic but more stable particles.
These energetic particles are what we are looking for and fill up the 2nd and 3rd generations of Quarks and Leptons, there are only 3 generations according to our best theories, which we already know and are called, Charm (c), Strange (s), Top (t) and Bottom (b) Quarks and the Muon, Muon-Neutrino, Tau and Tau-Neutrino leptons.
So, I've just explained a bunch of physics that didn't really answer the question of what we are going to do with it.
From a purely physics point of view creating these particles, seeing how they interact and behave will help us know if our current theories are correct. We also hope to discover newer more massive particles that a higher energy beam allows us to create, particles such as the Higg's Boson which is theorised to couple matter to the Higg's Field and give matter its mass. We will also look into String Theory, SuperSymmetry, Grand-Unified Theories, Charge-Parity Violation and all sorts of other theories out there.
That's a small physics argument which we use to say what is a good experiment from a physics point of view, now for some things a little more down to earth.
Our knowledge of the electron and the atom didn't just pop out from theories, it was tested, modeled and understood via experimentation. All of the electronic devices you use today are the result of our understanding of the electron and how to manipulate matter down to the atomic level. All of this came from particle experiments done many years ago, some before the WWII.
Not only electronics has particle physics to thank, but medical treatments for cancer (proton-therapy), MRI's for scanning the brain, all come from physics experiments done many many years ago. The internet? that was made to help physicists exchange data easily, lots of technologies come about from experiments with no actual connection to the experiment itself.
A lot of discoveries made even before the majority of us were even born are only now beginning to be realised and put into practice.
So what's my point? My point is that the experiments we are doing now, learning about Quarks and other sub-atomic particles will no doubt be used in the future in technologies that after a while will become common place. It takes generations for the knowledge gained in these experiments to be properly understood and converted into useful purposes, some never makes it or has no use, but a lot of it does.
Not many experiments are ever run with the intention of producing a commercial product(s) at the end of it, they are run because we want to ask questions of our surroundings and understand how the many parts of the puzzle fit together. If we had to justify every experiment and say what future commercial gains they would bring, hardly anything would be done because at the beginning we really can't tell and no big company is going to spend money on what-if's.
Now this is wwwaaaaaay out there.
Let me pose one interesting thought, say we do find the Higg's Boson, the reason that matter has mass and from where gravity starts to come in, is it not feasible to think that sometime in the future we might figure out a way to easily de-couple matter from the Higg's field easily, just think of the possibilities that would bring.
People have for years been trying to build anti-gravity devices using what you may think of as a brute-force method and with no understanding of why matter is even attracted to each other. Sure we can model it and see it happening and account for it when sending people and satellites into space through Einstien's theories on relativity and Space-Time, but again they don't tell you why it happens, just what it results in.