Have you ever accidently deleted the content in an article and clicked save? Well when version control comes into play with Joomla, you can revert back to an older saved version of your article before that accidental deletion of your content.
Furthermore, in a corporate environment, changes and modifications to the website can be tracked and traced. This means that you can find out who made the edits to an article and if additional training is required for that user to prevent incorrect usage of the website in the future.
The new version feature in Joomla enables the user to view multiple versions of an articles that have been saved within the Joomla CMS. A user can then do a comparison of the different versions, get a real preview of older versions and track who made the changes. It also allows you to go back and restore prior versions of an article, category and even potentially other extensions that may take advantage of this new feature. Very exciting!