Parse vs create in Open AI chat completions

What’s the difference between chat.completions.create and chat.completions.parse? I saw parse used in the structured outputs introduction but it’s unclear to me what actually is being parsed and when to use create vs parse.

https://platform.openai.com/docs/guides/structured-outputs/introduction

If you see closely, chat.completions.create returns response object containing the model’s generated reply, however to get fine control you can use parse method, which has also parameter ```
response_format

it will give you fine control over format and also if you want to Extract specific data, or format response.