The value of the hand depends on in which position you get the cards. In a short handed game under the gun (UTG) being in the earliest position a suited KT isn’t worth a lot, to fold the hand is the best, whereas sitting in the place of the dealer  the hand should be raised.
 
The big advantage of the position, that you have a lot more information about the hands of the players at the table, as they need to “declare” their hands’ strength before you act anything. On one hand we have more information and on the other hand you have a possibility to act afterwards.
 
The most important advice is that in early position you should play with few cards, and you should increase the number of played hands in the later positions. Preflop Starting Table guides you exactly which hands should be played in which position.
 
Let’s look at the most important advantages of the position:
 
1. It is easier to win the pot in the late position if there are two players left after the flop

2. You can reduce your loss in dangerous situations against opponents slowplaying their big hands if they are planning to check-raise  

3. You are in a better position and have more alternatives postflop in case of aggressive preflop play

4. It is easier to bluff and keep the opponent under pressure as the opponent with marginal cards doesn’t tend to fight, and knows that he will be in disadvantageous situation in the next round as well

5. Pot control is easier

6. Having more information means easier hand reading

7. Check-raise bluff without position costs more in long term than standard raise with aim of bluff sitting after/behind your opponent

8. It’s simpler to play the drawing hands. You can decide either take a free card or semi-bluff. In addition getting the drawing card means it’s easier “to make money” with it. After your occasional check-raise without position, your opponent can check it also in order to pot control.

9. You can create many situations, where after your raise or re-raise  your opponent should make a decision to risk his whole stack, whereas you can still step back

10. Before your turn the opponents can start a “re-raise war” and you don’t need to put money into the pot with marginal cards, so you can save money

11. Raising preflop or in case of unconnected flop the continuation bet is more effective. The opponent sitting in the early position is aware of that if he checks the turn he can face another bet again. So he is in worse situation with marginal hands, he tends to fold them more often. This refers to river also, as the opponent should expect that you have a chance for one last big bluff after another check 

11. In case you recognize that the player sitting before you is using blocking bet  you have a possibility to win the pot with one big raise even without  a hand