Google extracts entities from your webpage automatically, without any effort on your part. These are people, places and things that have distinct properties and relationships with each other.
• Christopher Nolan (entity, person) stands 5'4" (property, height) and directed Interstellar(entity, movie)
Even though entity extraction happens automatically, it's often essential to mark up your content with Schema for specific supported entities such as business information, reviews, and products. While the ranking benefit of adding Schema isn't 100% clear, structured data has the advantage of enhanced search results.

For a solid guide in implementing schema.org markup, see Builtvisible's excellent guide to rich snippets.
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