A traceroute gives you a detailed log of all the network hops between your users and your target system. Traceroutes show you each sequential hop and the RTT (round trip time) for each successful hop. You can use traceroutes to quickly identify the source(s) of latency.
Traceroutes are used to track transit delays of packets across a network. Rather than a ping which tells you the total RTT between a user and a system.
A traceroute will fail if two of the three packets sent are lost. This likely means that there is a faulty configuration somewhere.