What are the Advantages and Disadvantages of running a service in different process?

I want to run a long running Service in the background in my App.so i am using Service for that but in the service there is tag called android:process So my service is like..

<service
        android:name="com.purpleshade.services.ApplicationService"
        android:process=":myprocess">

Question::

So i want to know about the Advantages and disadvantages of running a Service in different Process.