Rational Rose is a visual modeling tool for object-oriented software development, using UML to assist both non-programmers and programmers in modeling business processes and application logic. It supports various modeling techniques like use cases, class diagrams, sequence diagrams, and more, facilitating both forward and reverse engineering throughout the application development lifecycle. The document describes the components of different diagrams used for modeling, including use case, class, sequence, and collaboration diagrams, which serve to outline system functionality, structure, and interactions.