Apache Hive is a data warehouse and SQL-like querying tool developed initially by Facebook and now owned by Apache, designed for analyzing large datasets on the Hadoop ecosystem. It allows users to manage vast amounts of data using a familiar SQL-like interface, supporting capabilities like partitioning and external tables while integrating with other Hadoop tools. Its architecture features core components such as the Hive User Interface, Meta Store, and Execution Engine, making it an effective solution for big data analytics.