This application details how a dual-channel LDO may be used to provide a dynamic voltage scaling output. This function is useful when powering microcontrollers that have a wide operating voltage range: it is advantageous to lower the operating voltage of the MCU in order to achieve lower power consumption (when possible).
The MSP430G2001, for example, has a supply voltage range that varies depending on the system frequency and programming modes. As an example, when the system frequency is 1MHz and flash memory programming is not required, the supply voltage range spans from 1.8V to 3.6V. However, if flash memory programming is required, the supply voltage range contracts to 2.2V to 3.6V.
For more detail: Dynamic Voltage Scaling with a Dual LDO