The acronym ETL stands for Extract, Transform, Load, a process used in data management. ETL involves three main steps: extracting data from various source systems, transforming it into a suitable format that fits operational needs (which may include cleansing or aggregating data), and loading it into a target database or data warehouse. This process is crucial for integrating data from multiple sources, enabling accurate reporting and analysis. It forms the backbone of business intelligence and data analytics, allowing organizations to make data-driven decisions.