Twitter is all the hype at the moment in the "social networking circuit" is used for socializing, relationship building, marketing, updating etc.. It has what you could term "sister" sites like MySpace and Facebook to a certain extent degree. Twitter's uses are much more extensive than the fore mentioned.
Now the question is what is there to like about Twitter, let’s get started: The theatrical and comic posts are always entertaining, it kind of gives you a short lived glimpse into people's live and we all know how nosy the human race can be. The fact that this is real-time to the seconds kind of makes this even more perverse (In the nicest possible way). The ability to be able to social media account management read but not interact can be a major plus point.
The reach and "tentacles" of twitter are growing by the day and can be one of the quickest/easiest sources of traffic available. Tweeting new blog posts or site comments is guaranteed to bring in those ever precious visitors. Twitter is cracking down hard on spammers though, so make sure the Tweets are informative, likeable and most importantly engaging, and of course DO NOT flood or spam this will end up in an instant ban, and take it from me they will hardly ever re-instate these accounts. Always engage your target audience, start conversations, comment on tweets, post pictures, generally just be informative and useful.
The large amount of "uncouth", "immoral" spammers has created a precedent whereby the onus is on you to make sure you are alive and kicking and feeding the community with a wealth of knowledge rather than forcing products down there throats.
Keep those fun and interesting facts or sites you find, add them to a url shortener and post away.
Getting niche targeted followers is imperative if you plan on using Twitter for business purposes. The more of a targeted audience you have, then conversely the more of that targeted audience see and interact with your tweets or links. I stress "TARGETED" as there really is no point in letting spammers on "hang ons" follow you when you are trying to promote a specific product. Search for people with a similar niche to yours, start slowly following these people's followers and building up your network. Engage in Re-Tweeting other follower's posts, so they will in turn Re-Tweet yours (This is known as RT in Twitter speak). If you make an informative tweet and it gets enough attention to get a a RT then everyone who follows that person will have a chance to see your Tweet as. This would be considered viral marketing in its simplest form. Think of the benefits if say 10 people's did this and then another 10 on top of that. This would be a huge snowball effect and if linking to your site would create some nice healthy niche targeted traffic.