Before I talk about the advantages of backlinks, you need to know that much has changed concerning backlinks in the past couple of years.
There was a time when even low-quality links helped in ranking a site. But ever since Google rolled out its penguin algorithm, the whole landscape of backlinking has changed.
It is important to have backlinks from quality sites, and those backlinks should be contextual. If, for example, you have a site about fish, and you are creating links from other niche sites about monkeys, these links will be of no use. Your goal should be to get links from authoritative and relevant sites.