It's important to understand that on a gas range or regular electric range, the knob controls power, i.e. the amount of heat you're putting into your cookware per second. And if those two are your only options, then the gas range is much better than an electric range, because you can change the amount of power very quickly, there's no lag.

But with an induction range, or a ceramic glass range, the knob controls temperature, i.e. there's a thermostat somewhere that regulates the power. And this gives you a lot more control, especially at lower temperatures. But it's not unique to induction ranges, any ceramic glass range can do the same, although they have more "lag" than an induction range.