Should i add a schema markup?

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What is the importance of schema markup in SEO?
Does it have an impact on SEO?
Should I include it on my website?
It it a ranking factor?

 

[bavya]

Schema markup (schema.org) is a structured data vocabulary that helps search engines better understand the info on your website in order to serve rich results.

 

[muhammadahmad]

No, schema markup is not necessary.
However, adding schema markup to your site will give you a higher chance of getting a rich result which takes up more real estate on the results page.

For example, if you want to get google SERP Star Rating and Review, You should add review schema markup and structured data.
If you are SEO Professional and have a Web Design Company then you can add a Schema Markup called Local Schema Markup.
If you don't know how to add review schema markup?

 

[KJH22]

What is the importance of schema markup in SEO?
Does it have an impact on SEO?
Should I include it on my website?
It it a ranking factor?

As others have stated, it helps Search Engines understand what the document is about or includes within. Google bots can't read text like a Human. It doesn't say, hey he made a great point in paragraph two. Google is a Semantic Search Enigne and Schema can give you an advantage if your competitors aren't using it. The SEO plugin's do a very minimal (poor) job with what schema can really be added to a page.

Yes, to your other three questions.