The Harvard Architecture is a computer architecture that uses separate storage and pathways for instructions and data. This means that the CPU can access instructions and data simultaneously, which can lead to improved performance compared to other architectures, like Von Neumann Architecture, where both share the same memory. In a Harvard Architecture system, the instruction memory and data memory are distinct, allowing for more efficient processing. This design is commonly used in embedded systems and digital signal processors, where speed and efficiency are crucial for performance.