Materialized views in SQL Server are pre-computed versions of regular views. Instead of dynamically generating results each time a query is run against the view, a materialized view stores the results in a separate table. This pre-computation dramatically improves query performance, especially for complex queries that involve multiple joins or aggregations on frequently accessed data. Think of them as cached query results. This caching mechanism is particularly beneficial when dealing with large datasets or complex queries that would otherwise take a long time to execute. Materialized views are updated periodically, either automatically or manually, to reflect changes in the underlying data. This update process is crucial to maintaining data accuracy. The frequency of updates is a key consideration when designing a materialized view, as it balances performance gains with the cost of maintaining the view's accuracy.