Data structures in Python are essential tools for organizing and managing data efficiently. They allow programmers to store, retrieve, and manipulate data in various ways, making it easier to solve complex problems. Python offers several built-in data structures, including lists, tuples, dictionaries, and sets, each with unique characteristics and use cases. Lists are versatile and mutable, while tuples are immutable, providing a fixed collection of items. Dictionaries store key-value pairs, enabling quick data access. Understanding these data structures is crucial for effective programming and optimizing performance in applications ranging from data analysis to web development.