As one of the three important Fuel and Hydration, sweat loss, and more specifically, the replacement of fluids, is an incredibly important aspect of endurance racing, and is strongly correlated to race day survival, performance and recovery. The other two aspects, fuel (primarily carbohydrates) and electrolytes (primarily sodium) are the other two components. Without any one of the three, long distance and endurance events, or races, become considerably more challenging, and the chances of you finishing, drastically diminish.
Understanding how much fluid you have to consume during an event is determined by a variety of factors and variables. A few of the variables:
Time of Day, Heat, Humidity, Diet, and Effort. In addition, your sweat rate is unique and may also change throughout your life. Unlike your relative sodium concentration, which generally is constant throughout your life and in the majority of circumstances.