The Needleman-Wunsch Algorithm is a dynamic programming method used for sequence alignment in bioinformatics. It compares two sequences, such as DNA, RNA, or protein sequences, to identify regions of similarity. The algorithm assigns scores for matches, mismatches, and gaps, creating a scoring matrix to find the optimal alignment. This algorithm is particularly useful for global alignment, meaning it aligns the entire length of both sequences. By systematically filling in the scoring matrix and tracing back the optimal path, the Needleman-Wunsch Algorithm helps researchers understand evolutionary relationships and functional similarities between biological sequences.