1. Parallel computation is needed to achieve high performance as modern processors have limitations despite features like caches, buses, and pipelines. Parallel computers use multiple CPUs working together to solve problems faster.
2. Flynn's classification categorizes computer architectures based on their instruction and data flows as single instruction stream single data stream (SISD), single instruction stream multiple data stream (SIMD), or multiple instruction stream multiple data stream (MIMD).
3. Important metrics for measuring parallel performance include speedup, which measures improvement over sequential execution, and efficiency, which relates speedup to number of processors used. According to Amdahl's law, even small amounts of sequential code limit maximum speedup attainable.