1) Parallel computing involves using multiple processors simultaneously to solve computational problems. It breaks problems into discrete parts that can be solved concurrently.
2) There are four types of parallel processor organizations: single instruction single data (SISD), single instruction multiple data (SIMD), multiple instruction single data (MISD), and multiple instruction multiple data (MIMD).
3) Historically parallel computing was used for scientific modeling but now also powers commercial applications involving large data processing like web search engines and databases.