Random Access Memory (RAM) is a type of computer memory that allows data to be read and written in any order. This means that the CPU can access any byte of data directly, without having to go through other bytes sequentially. This feature makes RAM much faster than other types of storage, such as hard drives. RAM is volatile, meaning it loses its data when the power is turned off. It is used to store data that is actively being worked on by the computer, allowing for quick access and processing. This is essential for running applications and multitasking efficiently.