The Harvard architecture is a computer architecture design that separates the storage and handling of instructions and data. This means that the CPU can access both memory types simultaneously, which can lead to improved performance. In contrast to the Von Neumann architecture, where instructions and data share the same memory space, Harvard architecture allows for more efficient processing in certain applications. This architecture is commonly used in embedded systems, such as those found in microcontrollers and digital signal processors (DSPs). By having distinct pathways for instructions and data, systems can execute tasks more quickly and effectively, making it ideal for real-time applications.