The term "DRY" stands for "Don't Repeat Yourself," a principle in software development aimed at reducing repetition of code. By avoiding redundancy, developers can create more maintainable and efficient programs. When a piece of code is reused in multiple places, any changes require updates in all locations, increasing the risk of errors. Applying the DRY principle encourages the use of functions, classes, or modules to encapsulate repeated logic. This not only simplifies the codebase but also enhances readability and collaboration among developers. Overall, DRY promotes better practices in programming, leading to higher quality software products.