The fundamental problem of cartography is that no map from the sphere to the plane can accurately represent both angles and areas. In general, area-preserving map projections are preferred for statistical applications, while angle-preserving (conformal) map projections are preferred for navigation.
Stereographic projection falls into the second category. When the projection is centered at the Earth's north or south pole, it has additional desirable properties: It sends meridians to rays emanating from the origin and parallels to circles centered at the origin.