The `INSERT INTO SELECT` statement is a crucial part of SQL for data manipulation. It allows you to insert data from one table into another table. This is often used when you need to copy data from one table to another, or when you need to insert data based on a specific condition or calculation. It's a more efficient way to copy data than using multiple `INSERT` statements. The statement combines the `INSERT` command with a `SELECT` statement, allowing you to specify the source table and the columns to be copied. This is a very common technique in database design and management. For example, you might use it to migrate data from an old database table to a new one, or to populate a new table with data based on a specific criteria from an existing table.