Piano practice is for those who want to learn to play piano pieces for performance or just for fun. Most students should set up some weekly steps to achieve a goal, mainly getting a piece learned. After the student sets up some small steps and executes them, results will follow for the patient pianist.
In working towards your overall goal to become a better pianist, you will need to develop hand, finger, and wrist strength ideally on a daily basis. A great way to do that is to regularly practice finger exercises before you begin your regular practice session. Improving your technical skill helps you reach your other goals more quickly and efficiently.
Scales and arpeggios are the backbone of piano technique and with regular practice fingers will become more agile and dexterous. Speed will gradually be gained after much practice, but it is not crucial until accuracy is achieved. Pianists can practice these exercises at any speed in the beginning, as accuracy will get better with repetition.
Before you officially start a practice session, perform you piano exercises to get your fingers warmed up and ready to play your assignment. You do not want to do other exercises that encourage larger muscles in your hands or arms. This will not help finger dexterity and will instead slow your the speed and agility of your fingers as you play.
The major finger muscles are actually located in the forearm, and bending your wrists or fingers at strange angles can even cause permanent damage. You want a comfortable technique that allows for full music expression so that the wrist should be loose, not locked. If you are in physical pain after a practice session, than you are pushing yourself too hard, don't forget that about 75% of piano technique is all about relaxation.
Piano exercises are generally not popular with piano students, because they have a reputation of being boring and tedious. Many piano teachers expect students to play exercises as a part of the practice routine, and they usually expect the student to play them at the beginning of practice. Students should not feel that it is a useless waste of time, as they can look forward to some degree of improvement in finger dexterity and strength in just a few weeks.
There are many alternatives to repetitive sections of scales. For instance selecting certain etudes that concentrate on different technical aspects can be just as profitable and are much more interesting to play. Piano exercises will help you develop flexibility and are great for warming-up your fingers before actually practicing your pieces of music.
Keep in mind that playing exercises, scales, and etudes or studies will be better finger dexterity and technique. Do not overdo the exercises, but spend about ten minutes maximum daily. Make the best of your time playing the exercises, even try to play them musically with dynamics and with feeling if you can because you are improving your ability as a pianist.