Let $\phi:A \to B$ be a homomorphism where $A$ and $B$ are your favorite algebraic objects. I think of $\ker \phi$ as measuring the extent to which the morphism $\phi$ is not injective. That is, the "larger" the kernel, the more the map $\phi$ differs from an injection.
In a similar vein, the cokernel $B /~\text{im}~ \phi$ measures the extent to which the map $\phi$ differs from a surjection. A "large" cokernel indicates that the map $\phi$ is far from being surjective.
As an example, consider the embeddings of vector spaces $f:\mathbb{R} \to \mathbb{R^2}$ and $g:\mathbb{R} \to \mathbb{R^3}$. The cokernel of $f$ is isomorphic to $\mathbb{R}$ and the cokernel of $g$ is isomorphic to $\mathbb{R}^2$. So, in a sense, $f$ is closer to being a surjection than $g$ is.