Speed performance is critical in modern day applications. Most of the times your application may have to make requests to an endpoint/server to get some data. Or your application may frequently request a specific dataset.
Depending on the size of your dataset a long with other things like query database and network speed, the speed at which your application can fetch certain data to display to users may get slower over time (as data increases).
This is where caching comes in handy and can dramatically improve your application’s speed.