The Rao-Blackwell theorem is a fundamental result in statistics that provides a method for improving estimators. It states that if you have an unbiased estimator of a parameter, you can often create a new estimator that has lower variance by conditioning on a sufficient statistic. This means that the new estimator is more efficient while still being unbiased. The theorem is named after two statisticians, C. R. Rao and David Blackwell, who contributed to its development. By applying the Rao-Blackwell theorem, statisticians can enhance the precision of their estimates, leading to more reliable conclusions in data analysis.