A picklist is a predefined set of values that users can select from when entering or updating data in a field in an object schema. Rather than typing free-form text, users choose from a pre-defined list of options, ensuring consistent data entry across the system. This not only improves data accuracy but also simplifies reporting, filtering, and validation processes. Picklists are especially useful in fields where only specific values are valid, such as status indicators, priority levels, or categories, helping to standardize inputs and reduce user errors.