People often lump them together as the spinning things on a weather mast, but an anemometer and a wind vane measure two entirely different aspects of the wind, and you genuinely need both to understand what the air is doing. Confusing them is a bit like confusing a speedometer with a compass.
An anemometer measures wind speed: how fast the air is moving past a fixed point. The classic version has three or four cups on a spindle, and the faster they spin, the faster the wind. Speed is what tells you whether today is a gentle breeze or a gale, whether it is safe to fly a drone, and whether you should secure the garden furniture. It says nothing, however, about where that wind is coming from.
A wind vane answers the other half of the question: direction. It pivots freely and points into the oncoming wind, naming the direction the air is arriving from. That matters more than it first appears, because the source of a wind tells you about its character. Air arriving from a cold continental interior behaves very differently from air sweeping in off a warm ocean, even at the same speed.
The reason both matter together is that wind is a vector: it has a magnitude and a direction, and you cannot describe it with only one of them. A ten-kilometre-per-hour wind from the warm south and a ten-kilometre-per-hour wind from the icy north feel like different days entirely. Sailors trimming a sail, pilots judging a crosswind on a runway, and forecasters watching for an approaching front all need speed and direction read side by side.
There is also a forecasting payoff to watching direction over time. When a wind vane shows the bearing steadily rotating, it is often the first visible sign that a weather system is moving through, frequently hours before the rain arrives. Pair that with a rising or falling wind speed and you have a genuinely useful early-warning picture built from two simple instruments.
So if you are setting up a home station, do not treat the wind vane as an optional extra alongside the anemometer. They are partners. One gives you the strength of the wind, the other its origin, and only together do they tell the whole story of the air moving over your home.