Pros

Linear regression is a simple and convenient tool to establish an empirical relationship between one variable and a set of other variables.

Linear regression estimated by ordinary least squares is the “best linear predictor”: in a given sample, the estimated linear combination of regressors provides the closest approximation to the actual outcome.

Ordinary least squares works reasonably well even if the model is not perfectly specified.

Linear regression with ordinary least squares can provide a quick benchmark for more advanced methods.