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XML can easily store large number of data and can easily manage and process self describing data by itself. When processing data and information along with communication is a priority for you, then certainly XML should be the technology to reply upon. Relational systems can also be relied upon but only when you want to store numbers and texts.

Pros: Now everyone is familiar with XML and has relied upon so much that no one can afford to ignore it. One of the focus points of XML is data integration and data exchange which means that applications and the development systems that use XML will be able to store and exchange data.
 
Cons: XML processes information, and anyone in the world can read the documents as there is no special XML browser in the market yet.  IE 5 and Netscape 5 fully support XML. Moreover W3C's Amaya browser as well as JUMBO browser supports it.
                                    
XML is not only about support and display its about the structure its embedded in. like if the browser doesn’t support it, it does not convey that XML is useless as NASA uses it where browser doesn’t play any role. XML is the future where the developments tools and techniques improve day-by-day and more people come to know about its importance and long term benefits it has. 

XML helps to do those things which sometimes back felt impossible.