In the Software Development Lifecycle (SDLC), agile is a very popular approach. Although it does have some detractors, it could be the best approach for your company’s culture. The advantages include quicker release, and focusing on the Minimal Viable Product (MVP), which helps reduce bloat and scope creep.
However, this is not the best approach for every business. There have been some notable failures, and many people have felt that some social media company’s privacy issues are due to strictly adhering to the agile approach.
I can help you discover if agile is right for your business (or project). Many companies achieved success with blended approaches, or using different approaches for different projects (or different releases within the same project).
It is not uncommon to have a “waterfall” based Sprint “0” to focus on requirements gathering and architecture, and then use agile/scrum sprints for subsequent releases. The elegance of agile is that the right approach is simple and easily recognizable. The solution is as unique as your business.