Polynomial Regression is a type of regression analysis that models the relationship between a dependent variable and one or more independent variables using a polynomial equation. This approach is particularly useful when the data shows a curvilinear relationship, allowing for a more flexible fit compared to linear regression. In Polynomial Regression, the independent variable is raised to a power, creating a curve that can better capture the trends in the data. The degree of the polynomial determines the complexity of the model, with higher degrees allowing for more intricate shapes. However, caution is needed to avoid overfitting the model to the data.