Doing sprints help the team identify issues early at the project life cycle. This helps the team find things that are good or bad for the team or process early in the development stage rather than waiting till the end of the project to get feedback. This way the teams Learn early from the mistakes and can better themselves in the upcoming sprints.
Potentially shippable software at the end of every sprint.
The intention of every sprint is a potentially shippable software that is of immediate use to the user. By delivering a product that can be used and tested will also help the team receive early feedback on the work done. The team can then make changes to the product based on these feedback which will eventually result in a more value delivered to the end users.
This will also help the team perceive shippable obstacles and issues early in the development state compared to the waterfall model where issues related to release of software is often identified at the end.
The scrum artifacts like daily standups, sprint reviews, retrospections help the team to focus on continuous improvement through inspect and adapt. The team manges to improve by identifying and managing the impediments during the process.
Better visibility and improved productivity
The team focuses on keeping the progress of the project visible to the entire world. Everything the team is busy with is displayed on the tailboard. The task board shows the progress of the stories or tasks, spikes, bugs and the status of each item.
Burn down charts facilitate as symptom checkers for the team and help them to identify the smells during the progress of the sprint. For e.g a flat burndown shows that either the team is working on a lot of stories at time or nothing is getting done completely in the sprint.
The velocity charts helps business envision and evaluate the productivity of the team after every sprint.