Chainlink Data Feeds are the quickest way to connect your smart contracts to the real-world market prices of assets. For example, one use for data feeds is to enable smart contracts to retrieve the latest pricing data of an asset in a single call.
Often, smart contracts need to act upon prices of assets in real-time. This is especially true in DeFi.
The Decentralized Data Model describes how Data Feeds are aggregated from many data sources and published on-chain.