This is a wide-open question. There is a ton of information on scrums and agile methodologies on the Internet. However I will provide the following Atlassian document that might provide some value to getting you closer to your answer. https://support.atlassian.com/jira-software-cloud/docs/enable-sprints/ .
historically sprints have been used by software development teams primarily looking for a way out of the never ending waterfall process. However sprints have become more prevalent outside of software development. I have a number of non-software development teams using sprints to help them reach their goals. One advantage of using a scrum board is that you have a defined short interval of time where you focus on a definitive list of issues. By controlling the time and number of issues the team can more readily attain their commitments.
Hi @AM - Sprints are a powerful tool for development teams and they are aligned to agile/scrum methodology. Based upon your question, I would recommend first educating yourself and team on scrum and evaluating whether that is the right framework for your team, including the scrum events that make up a sprint and how successful scrum teams measure their effectiveness.
If you go this route and gain the understanding about scrum, it will help you answer your questions around "significance" and "why". From there, the community can help you with the question on "how".
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