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Apache Spark is a powerful data processing framework that has gained prominence for its ability to handle large volumes of data both in memory and on disk. It operates as an analytics operating system, allowing users to perform complex data operations with a unified API. The speaker emphasizes that Spark is designed to scale efficiently, making it suitable for various data processing tasks such as analytics and data pipelines. Unlike traditional systems, Spark is not meant to be a transactional database, but it shines when used for analytics and extracting insights from vast datasets.