A computer network connects multiple components for sharing information and resources, such as printers and data. There are various types of networks, including LAN, MAN, and WAN, each serving different geographic areas and uses, along with benefits like resource sharing and cost savings, and challenges such as security concerns. Data communication involves transmitting data through various media, both guided (like twisted pair and fiber optics) and unguided (like microwave and satellite), with specific protocols necessary for successful communication between devices.