tldr: You want
/dev/sdb represents the entire disk;
/dev/sdb1 represents a single partition on the disk. Partitions aren't really special in any fundamental way; it's just the operating system decided to treat one disk as effectively several disks. That's done by writing some specially-formatted data to the beginning (and sometimes end) of the disk, called a partition table.
You can put a filesystem on either then entire disk (and have no partition table) or on a single partition covering all of the disk (except the space used by the partition table). Both will work fine. There are some advantages and disadvantages to each. The main advantage to full disk on physical disks is you get an extra few KB of disk space. That's, err, obviously pretty insignificant. The main advantage to a partition is its what everyone expects. It also makes clear what space is reserved to, e.g., install a bootloader for pre-EFI (BIOS) systems. Or type of filesystem is on the disk with GPT.
And really, everyone expecting a partition is a pretty strong reason to go ahead and create one. Otherwise, any future admin (including possibly yourself) will be confused. And so too will be random programs. Absent a good reason to use the full disk (and with physical disks, there really isn't one) you should create a partition.
PS: I bet the GUI app has some way to create a new partition table (or maybe "label" instead) instead of having to use the CLI
parted. If it's the one I think you're referring to, there ought to be a "Format Disk..." option in the menu. (Sorry, not personally running RHEL/CentOS).
PPS: On virtual disks with Logical Volume Manager it can make sense to use full disk. It can make resizing the disk easier, but of course you can't resize non-virtual disks. So this very likely doesn't apply to your case at all.