I am a bit confused about the meaning of a Maven Snapshot and why we build one?
The "SNAPSHOT" term means that the build is a snapshot of your code at a given time.
It usually means that this version is still under heavy development.
When the code is ready and it is time to release it, you will want to change the version listed in the POM. Then instead of having a "SNAPSHOT" you would use a label like "1.0".
For some help with versioning, check out the Semantic Versioning specification.