Praise causes the presence of the Lord to manifest. Now we already know that God is everywhere all the time, but He shows Himself where He is welcome. That is how some Christians can almost continually sense the Lord's presence, and yet the negative, unbelieving, complaining world can live their whole life without feeling God near even once. Praise also creates havoc in the realm of the spiritual enemies of God, binding demonic rulers of darkness, causing them to be confused and destroy themselves. One could go on and on showing from the Bible what tremendous power is made available by simply praising God.
Praise establishes strength and causes our faith to go forth and become active.
Praise brings protection and deliverance. Praise satisfies the soul and brings joy, gives refreshing and well-being, drives away evil spirits. Praise transforms our surroundings, and helps us to renew our minds. Now here is the really exciting part. There is multiplicative power in corporate praise and worship of God.