Core Data is Apple's framework for managing and persisting data in iOS and macOS applications. It provides objects for managing data models (NSManagedObjectModel), object contexts (NSManagedObjectContext), and connections to persistent stores like SQLite (NSPersistentStoreCoordinator, NSPersistentStore). Core Data graphs and saves managed objects, handling all the complexities of object relationships and concurrency. Developers can customize data storage through entities, attributes, relationships in the data model and by choosing XML, SQLite, binary, or in-memory storage formats.