An array is a collection of similar data elements stored in contiguous memory locations that can be accessed using an index number. For example, to store marks of a student in 5 subjects, an array called "marks" could be used where marks[0] stores the mark of the first subject and so on. Arrays make it easier to store and access large amounts of data compared to individual variables. They allow direct access, easy traversal through elements using indexes and allocate contiguous memory for elements.