Chess improves Imagination. For example, before implementing a move a player imagines/ visualizes the effect on chess board. A player considers different moves or possibilities before playing a move and selects the best one that adds accuracy and benefit to his game and increases his chances of winning.
Pattern recognition is a fundamental quality momentous in chess. You need to recall previous moves and compare it with the current scenario (position) before placing a move since it is very difficult to recall each and every move as there are thousands of moves and it is almost impossible to recall them at one time therefore your mind search for pattern and similarity in each scenario (position), thus improving pattern recognition.
Chess teaches independence. You are forced to make important decisions influenced only by your own judgment.