As often as you need. If you do not need it do not use it.

Instead of trying to make profiles for all, it is better to carry the checker if you need it.

Cases where you need it/ do not need it.

• You make product shoots and you need the colors of the product be as accurate as possible. / You are making a still life. The image or light just looks good.

• You are using different cameras, a wedding photography where you have 2 or 3 photographers using different cameras, or a video sequence where again, you need to have consistent colors during the movie. / You are taking casual photos.

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It has no sense of making a color profile of "sodium vapor" lights for example, because you will never use that light for a color product shoot. In those cases you want a mood, not to change that yellow light to "white".

In most situations, there is a chance that making a white balance is enough.

If you want to play, go ahead.

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Just some notes regarding your comments.

As Michael Clark commented. Color calibration is made after the shoot is made. It is a post process.

1) You take a sample shot of a white target, or your Macbeth color chart but as a reference.

2) Based on that information you make a profile of modifications that will be applied to subsequent images in Lightroom or Photoshop.

What does improve your dynamic range, or better said, optimizes your existing camera's dynamic range is proper exposure.

A light meter gives you a reading of the light and recommends the proper exposition.

But there is a chance your camera has a slight variation on the middle gray for some reason, or has more sensitivity in the brighter zone.

Some high end exposimeters help you make a dynamic range calculation on your camera. The explanation is out of range of this answer, but basically after this series of measures and comparations with your camera images, it saves some adjustments on the light meter itself and the next time you take a reading, gives you a value optimized for your camera.

There are several methods to do that and depends on the light meter, some are a series of bracketed shots and others are using a grayscale target.

And after your exposimeter has this information, next time you take a shot using this values, the shoot itself, therefore the raw data captured, will be with the maximum dynamic range your camera can provide.