Exponential refers to a mathematical concept where a quantity increases at a rate proportional to its current value. This means that as the quantity grows, it accelerates rapidly. For example, in the case of population growth, if a population doubles every year, it follows an exponential pattern. In practical terms, exponential growth can be seen in various fields, such as finance and technology. For instance, the value of investments can grow exponentially due to compound interest, while data storage capacity has increased exponentially over the years, leading to advancements in computing and communication.