ROM is a type of non-volatile memory used in computers and electronic devices to store firmware and other important instructions. Data stored in ROM cannot be modified, making it read-only. ROM retains its data even when the power is turned off. There are different types of ROM, including PROM which can be programmed once, EPROM which can be erased with UV light, EEPROM which can be erased electrically, and flash memory which allows electrical erasure of data and faster write speeds than EEPROM. ROM is commonly used to store BIOS instructions and in applications that require fixed, unchanging data like embedded systems.