Ends and coends should be thought of as very canonical constructions: as Finn said, they can be described as weighted limits and colimits, where the weights are hom-functors.
Recall that if is a (small) category, a weight on is a functor . The limit of a functor with respect to a weight is an object of that represents the functor
Dually, given a weight , the weighted colimit of with respect to is an object that represents the functor
Then, as Finn notes above, the end of a functor is the weighted limit of with respect to the weight , and the coend is the weighted colimit of with respect to .
The ordinary limit of is the weighted limit of with respect to the terminal functor . Ordinary limits suffice for ordinary (-based) categories, but they are inadequate for enriched category theory. The concept of weight was introduced to give an adequate theory of enriched limits and colimits (replacing by suitable , and functors as above by enriched functors, etc.)
Weighted colimits and weighted limits (in particular coends and ends) can be expressed in terms of Kan extensions. For any weight in , the weighted colimit of (if it exists) is the value of the left Kan extension of along the Yoneda embedding when evaluated at , in other words
A similar statement can be made for weighted limits, as values of a right Kan extension.
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