Approximation techniques are methods used to find solutions that are close to the exact answer when it is difficult or impossible to calculate the precise value. These techniques are commonly applied in fields like mathematics, computer science, and engineering to simplify complex problems. By using approximations, one can save time and resources while still obtaining useful results. Common approximation methods include numerical analysis, where algorithms estimate values, and Monte Carlo simulations, which use random sampling to approximate solutions. These techniques help in scenarios such as optimization problems and statistical analysis, making them essential tools for researchers and professionals in various disciplines.