Sometimes a subsonic filter is followed by this type of EQ, in that case you can set it just beneath your tuning frequency of your vented enclosure to control cone motion once the enclosure unloads so that you can apply more power at the tuning frequency.
If you are using a small sealed enclosure, you can use it to boost the lowest, least efficient frequencies if the driver can handle the added excursion or the upper bass 40 - 50hz if you have a large, sealed enclosure that is lacking in upper output.
Lastly, if your EQ allows you to cut by any amount, you can use it to remove boomy bass that sounds like a one-note type of thing.
It's all up to you. Just know that when you boost frequency response, you are placing large demands on the amplifier's output capabilities and you risk clipping.