The term "parallel processing" refers to the simultaneous execution of multiple processes or tasks in computing. This approach enhances computational efficiency and speed by dividing a problem into smaller parts that can be tackled concurrently, usually across multiple CPUs or cores. Parallel processing is especially beneficial for handling large datasets, performing complex calculations, and accelerating data processing tasks. By optimizing resource utilization, it significantly reduces processing time and improves overall system performance in various applications, from scientific computing to data analysis.