Rapid Application Development (RAD) is an agile methodology for software development that emphasizes speed and active user participation, in contrast to traditional sequential methods. It focuses on rapidly creating and enhancing functional prototypes driven by ongoing user feedback. This approach results in shorter development timelines, faster market launch, and the ability to adjust to evolving requirements, culminating in a product that aligns more closely with user expectations. Essential components include small, adaptable teams, visual development tools, and ongoing communication to facilitate prompt issue resolution.