Hide as a bonus action using the rogue cunning action ability to gain advantage on your next attack.
Move>Hide>Attack(w/advantage)>Move some more
Lets you target enemies that are not adjacent to allies for sneak attacks and gives you a better chance to hit, great for ranged builds.
Halflings(lightfoot) can do the same thing in melee pretty easy by using other enemies to hide behind. So you have two enemies near you, move behind one cunning action to hide from the other, then move out and attack.
Also hiding is great for you know hiding, when the dragon droppings hit the fan it might be best to hide it isn't a TPK if one person lives to get the others raised from the dead.