Verdi is a waveform viewer, debugger, and coverage analysis tool from Synopsys. It has quite a lot of features that aid in design and verification debug which makes it a very popular tool in the industry. A set of similar tools from Cadence is Simvision + Indago + Imc.
Hardware is designed using Verilog/SystemVerilog and it becomes important to analyze functionality using simulations and waveforms to see how the design would behave for different stimuli. Waveforms are typically generated during simulations, and Verdi helps to analyze RTL/netlist behavior. Hardware/software simulation is another feature that is also quite useful at the SoC level.
As far as business impact is concerned, it depends on tool usage, number of licenses, and the features activated in the product for the license that a company requires.