Engineers In need of explanation about explosive damage

Hi

As we all know, Thermal damage is effective against shields, kinetic against the hull, but what about explosive ?
All i know is that it's the worst to use against shield, and average against the hull, so basically it's the worst type of damage ? is it effective against the modules at least ?
Because i'm trying to understand why should anyone should put the experimental "high yield" on Cannons (the only decent one) if it will reduce the damage output ? On top of that it reduces the attack speed.

I would prefer Incendiary on Canon that way the damage will become good on both shields and hull (just like MCs).
 
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Its my understanding that it tickles shields, but wrecks hulls. also does area damage to any and all modules in its blast radius. at least that's how i think it works. I could be wrong
 
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