Why do organisations prefer Agile methodology over Waterfall,V model or any other methodologies?

Agile is a lightweight method. As software developers focus on smaller work areas, overhead becomes less, and the project costs considerably less than when using the Waterfall method. When customer requirements are hazy, or the business environment is uncertain, Agile methods that allow making frequent changes, and testing during the construction stage remains the best choice. Successful execution of Agile projects nevertheless requires highly skilled and competent developers, and stakeholders who know what they want. With the scope to accommodate changes, an Agile project can easily lose its way.

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