Ultimately, the quantities that you have to calculate, and compare to the reality are probabilities or transition probabilities, which are the square of amplitudes or transition amplitudes. The path integral formalism represents directly transition amplitudes. In quantum mechanics, you may recover the Schrodinger equation from the expression of the path integral representing the transition amplitude $\langle x',t'|xt\rangle$. You have, for "wavefunctions", the integral equation $\langle x',t'|\psi \rangle = \int dx \langle x',t'|xt\rangle \langle x,t|\psi \rangle$,- with the expression $\langle x',t'|xt\rangle = \int [dC] e^{iS(C)}$, where $C$ is a path from $x$ to $x'$, $t$ to $t'$, and $S(c)$ is the action for this path - and taking the limit $t' \to t$, will give you the Schrodinger equation.
The quantum formalism that you may use (path integral formalism, operator formalism , Schrodinger/Heinsenberg representation, etc..), is secondary, in the sense that these formalisms are equivalent.
It is very interesting to look at different formalisms, but, practically, depending on your problem, you will choose the simplest one.
Let' take the example of the quantum harmonic oscillator. You have different eigenstates $\psi_n(x,t)$ corresponding to energies $(n+ \dfrac{1}{2})\hbar \omega$. Suppose you want to calculate the transition probability : $|\langle\psi_{n}|X| \psi_{n+1}\rangle|^2$. You may imagine doing the integral on $x$ with the expressions of $\psi_n(x,t),\psi_{n+1}(x,t)$. You will work with the "wavefunctions" and Schrodinger representation. Now it's far more interesting, in this particular case, to work with Heinseberg representation, with an operator $X(t)$. The equation for the operator $X(t)$ is simply $\ddot X(t) + \omega^2 X(t)=0$, with the Heinsenberg constraints : $[X(t), P(t')]_{t=t'} = i \hbar$. A solution is $X(t) = \sqrt{\dfrac{\hbar}{m \omega}}(a e^{i \omega t} + a^+e^{-i \omega t})$, and, in the energy basis, the non- null terms of $a$ are $a_{n,n+1} = \sqrt{n+1}$. Now, the probability that we are looking for is simply $|X_{n,n+1}|^2 = \dfrac{\hbar}{m \omega}(n+1)$.
[In fact, to correctly understand Quantum mechanics, it is better to think in terms of Heinseberg representation, than Schrodinger representation. For instance, in Quantum Field Theory, you are working in a " Heinsenberg representation", that is: you work with operators $\Phi(x,t)$ depending on space and time, you are not usually working with wavefunctions $\psi(\Phi,x,t)$ - even if this formalism is possible].
Now, turning back to path integrals, it is the same logic. If you consider for instance QFT, depending on your problem, it could be more interesting to use the path integral formalism, or use the operator (canonical) formalism. For instance, you may want to calculate the vaccum energy for a bosonic field or a fermionic field. It is simpler to use the operator formalism, but you may use too the integral path formalism (see for instance Zee, QFT in a nutshell Chapter II.5 p 121/126, first edition), and you will find the same result.
If you want to calculate Green Functions and propagators, it is totally natural to use the integral path formalism, for instance in a perturbative field theory, and this leads naturally to Feynmann diagrams, and Feynmann diagrams is that you need to calculate transition amplitudes and transition probabilities, in collision particles process.