The document discusses using Taylor series to understand truncation errors in numerical approximations. It explains that Taylor series allow using approximations by adding additional terms to increase the order of approximation. Starting with a zero-order approximation, adding a first-order term allows a linear adjustment, and generalizing the Taylor series allows for better approximations of functions through higher-order terms in the series expansion. The Taylor series is used to estimate the characteristics of truncation errors that result from using approximations rather than exact mathematical procedures.