Degreeing in your camshaft means synchronizing the camshaft's position with the crankshaft. A few degrees of misalignment can affect the engine's operation dramatically. If there were no manufacturing tolerances, you would only need to line up the marks on the timing chain sprockets and the cam would be degreed, but with a group of components (the camshaft, crankshaft, timing chain, and sprockets) all with their own standards and tolerances that when installed, can stack up against you.