The About the Author page lets the reader connect more directly with you. They see your photo, they learn about your background and hobbies. The personal connection is immensely important in our Twitter world. Study after study shows that readers connect more strongly with people when they see a photo and learn more about them. This then encourages them to recommend your books to others and to read more of your books.
You don't have to be a movie star. Readers actually like it more when they see you are a "real person". They connect with you more directly, as if you were their best friend. Certainly have the photo be a good quality one, not a fuzzy, out of focus one.
Let your bio give a sense of what you are all about. Talk about why your books are important to you. Share your story.
The bio on the right is the one I use for my medieval novels. I use the same bio for all of them. I have over ten of them written. I use separate bios for my non-fiction books on sangria, Champagne, low carb dieting, and so on.
It's definitely important to have an About the Author page in the back matter of your book. In terms of formatting, you can continue your normal header / footers or you can end them when you end the story. Either way is fine.
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