As nouns the difference between effects and importance
is that effects is plural of lang=en while importance is the quality or condition of being important or worthy of note.
As a verb effects
is third-person singular of effect.
effects
English
Noun
(head)
(usually plural) belongings
Verb
(head)
(effect)
importance
English
Noun
(-)
The quality or condition of being important or worthy of note
significance or prominence
personal status or standing