Why do we use the SAT?

Could you please elaborate on the significance of using the SAT? I'm curious to know what makes it such a popular choice for students and universities alike. What are the main benefits of this standardized test? And how does it contribute to the overall assessment of a student's readiness for higher education? Additionally, are there any alternatives to the SAT that are equally effective in evaluating a student's academic abilities? I'd appreciate it if you could provide some insights into these questions.