What is the intended value of the Backlog Refinement event?

The intended value of the Backlog Refinement event is that the team is able to prepare requirements for Iteration Planning. Backlog Refinement is an ongoing process where the team collaborates with the Product Owner and other stakeholders to review, split, prioritize, and estimate the stories in the Team Backlog1 One of the main objectives of Backlog Refinement is to ensure that the stories are ready for Iteration Planning, which means they are clear, feasible, testable, and small enough to be completed in a single Iteration2 By doing so, the team can improve the quality, efficiency, and effectiveness of their work, as well as deliver value to the customers and the organization123