If you have never decanted your wine, shame on you. I personally prefer to decant my younger wines that are particularly closed on the nose - which is just a fancy way to say that it does not allow the taster to experience the flavors a wine has to offer.
As the wine is slowly poured from the bottle to the decanter it takes in oxygen, which helps open up the aromas and flavors. It is truly life changing.
What is also life changing is that Walmart (out of all places) has a ton of high quality decanters for under $50, and I have listed a few of my favorites: