The importance of the prayers lies in the fact that no matter what actions one performs in his life, the most important aspect is one’s relationship to Allah, that is, one’s faith (imaan), God-consciousness (taqwa), sincerity (ikhlaas) and worship of Allah (‘ibaadah). This relationship with Allah is both demonstrated and put into practice, as well as improved and increased, by the prayer. Therefore, if the prayers are sound and proper, the rest of the deeds will be sound and proper; and if the prayers are not sound and proper, then the rest of the deeds will not be sound and proper, as the Prophet (peace be upon him) himself stated.
In Arabic salaat is the word used for prayer.
The prayer was made obligatory upon all the prophets and for all peoples. Establishing of the prayer means that one performs and executes the prayer in the proper manner as prescribed in the Quran and Sunnah.
"Allah has obligated five prayers. Whoever excellently performs their ablutions, prays them in their proper times, completes their bows and khushoo has a promise from Allah that He will forgive him. And whoever does not do that has no promise from Allah. He may either forgive him or He may punish him."
Allah says in Quran,
"And seek help through patience and prayer, and indeed, it is difficult except for the humbly submissive [to Allah ]"
Allah also says in Quran,
“… Indeed, prayer prohibits immorality and wrongdoing, and the remembrance of Allah is greater…”
and also,
“Indeed, mankind was created anxious: When evil touches him, impatient, And when good touches him, withholding [of it], Except the observers of prayer - Those who are constant in their prayer”
Allah's Messenger (SAW) said, "Pray as you have seen me praying."