In Python, a list is defined as an ordered, changeable (mutable) collection of items, which means that the sequence of elements is preserved, and elements can be modified or rearranged. Lists can contain elements of any data type including integers, floats, strings, and even other lists. This feature allows users to create complex structures such as matrices or tables of data. The ability to access elements via indexing (starting at zero) and negative indexing (from the end of the list) is one of Python's key strengths. Additionally, operations such as adding, removing, and manipulating elements in lists are fundamental skills for anyone working with Python. Understanding lists not only boosts programming efficiency but also sets the foundation for more advanced data structures in Python.