There are both pros and cons to traditional publishing. Perhaps the biggest pro is that it can be easier to get your book into the hands of readers this way. With a traditional publisher, you have the backing of a company that has established relationships with bookstores and other distributors. This can mean that your book gets better placement and more marketing support than if you self-published.
On the flip side, traditional publishing can be a slow and frustrating process. It can take years to hear back from a publisher after you submit your work, and even then there's no guarantee that your book will be accepted. And even if it is, you may not have much say in the cover design or marketing campaign. Plus, you'll likely have to give up some rights to your work and will earn a lower royalty rate than you would if you self-published.