Memory allows computers to store and access information. There are two main types: short-term memory (RAM) for temporary storage while the computer is on, and long-term memory like disks for permanent storage. RAM provides fast access times but loses data when powered off, while disks provide slower access but persistent storage. Memory and storage needs are increasing rapidly due to larger files like images, video and compressed formats, pushing the limits of existing technologies. Networks allow connecting computers to share resources but introduce delays and unpredictability in interactive performance.