The age of exploration is also known as age of discovery. This era holds great importance because in the period from 1400 to 1800, europeans discovered different parts of world by oceans for finding trade partners all accross the globe. The age of exploration brought to them new means of doing businesses and finding out natural resources in different part of the world. The goods that were considered most desirable for trading were spices, gold and silver. Europeans discovered various trade routes by means of advanced shipping technologies to Asia, Mediterranean, Baltic, North sea, Atlantic, Portugese and Spanish world. Hence the whole world was explored which gave a boost to international trade.
It had a positive effect on the world, but for the humans those times it was a negative effect. Because the Portuguese took slaves from Africa. So it was bad for humanity. But if the age of exploration hadn't happened the united states wouldn't be here. So it also has a positive effect. It depends on how you look at it.