Queuing Theory is a mathematical study of waiting lines, or queues. It helps analyze the behavior of queues in various systems, such as banks, airports, and call centers. By understanding how customers arrive, wait, and are served, businesses can optimize their operations and improve customer satisfaction. The theory uses models to predict queue lengths and waiting times based on factors like arrival rates and service rates. This information allows organizations to make informed decisions about staffing, resource allocation, and service efficiency, ultimately leading to better management of customer flow and reduced wait times.