Praying for wisdom is one of those prayers where God promises to give you exactly what you want, for James tells us "If any of you lacks wisdom, you should ask God, who gives generously to all without finding fault, and it will be given to you." (James 1:5)
The point of God granting you wisdom is not just so you'll make better decisions that ultimately honor His name. The grand design of His granting you wisdom is so that you will actually know His heart in ways that you didn't beforehand.
I do not have a favorite Scripture, for I find that the other ones get jealous. In my top three of all time, however, is a prayer Paul prays for his friends in Ephesus, where he tells them:
I keep asking that the God of our Lord Jesus Christ, the glorious Father, may give you the Spirit of wisdom and revelation, so that you may know Him better.
A spirit of wisdom and revelation ... the ability to see beyond the surface. To see what is actually there instead of what appears to be there.
So that you may know Him better ... thus the goal of being granted the favor of wisdom and revelation. Knowing the heart of a God who always has your best interests in mind.
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