The Software Development Life Cycle (SDLC) is a structured process used for developing software applications. It outlines various stages, including planning, design, implementation, testing, deployment, and maintenance, ensuring that software is built systematically and efficiently. Each phase of the SDLC has specific deliverables and activities, allowing teams to manage complexity and improve quality. By following this life cycle, developers can better understand project requirements, reduce risks, and enhance collaboration among stakeholders, ultimately leading to successful software products.