In some cases, it can represent just that; if a load is applied coaxially (parallel to the member, ie. along the member's length) you end up gaining length along the axis and loosing girth. In practice, the magnitude of the strain is very small, hence the amplifier.
In my case the strain measures the tensive and compressive forces through the member. So when you apply a load at the end of a tube, there will be bending proportional to the force at the middle. Using a gauge at the top, you measure tension in the tube; at the bottom, you'd measure compression.
In specific, strain is the fractional change in length of the member. After knowing the strain (along with other information relating to the member), we can work backwards to calculate the forces along a member. In this way, we're able to - in my case - optimize the type of material as well as the thickness of tubing we use at certain areas so that they correspond with the forces, allowing for savings in weight and cost.
In the end, it's always about saving money.
