Translation memory is a technology used in the field of translation that stores previously translated segments of text. These segments can be sentences, phrases, or even single words. When a translator works on a new project, the system suggests these stored translations, helping to maintain consistency and speed up the translation process. By reusing existing translations, translation memory reduces the time and effort needed for future projects. It is especially useful for large documents or projects with repetitive content, as it allows translators to focus on new material while ensuring that established translations are applied correctly.