To what extent is blogging an important aspect of the SEO Process?

Blogs have no special powers of high rankings.
What they do have (if done correctly) is fresh, unique content.
Search engines do tend to like that, regardless of the format.
If they know any given site is adding new articles on a frequent basis, they will come around often to index it.
Blogs are certainly one way of easily adding new information to your site.
Newsletters archived on your site can provide a similar benefit, as can archived press releases, or a popular forum.
The "pinging" done by most blog software these days also seems to help get blog posts spidered and indexed very quickly, which is a plus.
In addition, blog posts will also show up in blog searches such as Google's Blog search, and Technorati Blog searches.
http://www.highrankings.com/faq-blogs

It depends on the nature of your website.
Blog (if maintained well) helps you to: - Keep your website fresh - having new content frequently which is essential for SEO - Generate more traffic from long tail keywords since head terms are always competitive - Having more pages indexed in search engine - Become a thought leader in your business which will not only give you link-backs but also boost your sales ....
and that's few to name

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Blogging is one of the best ways to enhance one's visibility in search engine. It offers an excellent platform to not only to become visible to target audience but also to showcase your expertise.

 

How often have you seen content go viral which in turn has helped the company/website gain huge attention from online world. Shares done on social media and outside of it definitely play an important role.

 

These are treated as social signals and are considered valuable by Google. In addition to it, blogging also gives an opportunity for you to get recognition from top sites within that domain.

It also enables your site to gain valuable backlinks which have become so crucial now a days thanks to Google's latest algorithmic changes. 

Last but not the least, if your blog has a link on your website then SEO benefits are passed on from the blog to website.