The Successive Approximation Model is a software development approach that focuses on iterative refinement. It allows developers to create a series of prototypes, gradually improving the system based on user feedback. This model is particularly useful in projects where requirements may evolve over time. In this model, each iteration involves building a version of the software, testing it, and then making adjustments. This process continues until the final product meets the desired specifications. The Successive Approximation Model is often compared to other methodologies like the Waterfall Model and is favored for its flexibility and responsiveness to user needs.