Redis is an in-memory key-value data store that can be used for caching, sessions, queues, leaderboards, and more. It provides fast performance due to being memory-resident and supporting different data structures like strings, hashes, lists, sets, and sorted sets. Redis is useful for read-heavy and real-time applications but may not be suitable if data does not fit in memory or for relational data needs. The presentation discusses using Redis with PHP and Symfony, data sharding strategies, and war stories from a social game with 7.5M daily users.