Cycle detection is the process of identifying cycles within a data structure, such as a graph or a linked list. A cycle occurs when a path in the structure leads back to a previously visited node, creating a loop. Detecting cycles is crucial in various applications, including computer science and network analysis, as it helps prevent infinite loops and ensures data integrity. There are several algorithms for cycle detection, with two popular methods being Floyd's Tortoise and Hare and Depth-First Search (DFS). These algorithms efficiently traverse the data structure to determine if a cycle exists, allowing for effective management of resources and optimization of processes.