I was studying for my final exam and there is a question in the archive that I cannot find its answer:
The order-of-growth of the running time of one
Here is are examples to convince you that O(N³) can be in some cases better than O(N²).
O(N²) algorithm is very complex to code whereas if input size is say N ≤ 100 then for practical use O(N³) can be fast enough
O(N²) has a large constant multiplied to it for example c = 1000 hence for N = 100, c⋅N² = 1000⋅100² = 10⁷ whereas if c = 1 for O(N³) then c⋅N³ = 10⁶
O(N²) algorithm has very high space complexity as compared to O(N³)