The UPDATE statement is used to modify existing data in a table. It's a core part of any SQL developer's toolkit, enabling you to change values in specific rows based on criteria you define. This is essential for keeping your database information up-to-date and accurate. For instance, updating customer addresses, product prices, or order statuses are all common use cases. The statement requires careful attention to the target table and the conditions for updating specific rows. Incorrect syntax or conditions can lead to unintended data changes, so precision is key. Understanding the different clauses and their roles is vital for effective and controlled data modification.