Peer review is common throughout academia. This provides a new perspective, accuracy, a way to check an interpretation missed, to receive constructive criticism from experts, and to make sure that nothing was missed. Experts are offering an opinion, and checking validity: has your claim been tested? Are the conclusions reasonable given your experimental design and statistical analysis?
The down side is that it takes a long time which slows down who can benefit form the research. An editor sends your review to colleagues. If there is a conflict of interest, it is forwarded to another editor. Blind review is where the reviewer is not exposed. Sometimes the paper is send as a "blind" author to the reviewer. Sometimes there is competition: politics and ego play into the process.
The paper is: Approved, Revise and Resubmit (common), or Rejected. As far as publishing one's manuscript, it's evaluated before it's published or before it becomes part of a grant application. Publishers send a conditional acceptance. Remember, the first writing is merely to understand yourself.
where'd you get the figure?
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