Stands for "Digital Versatile Disk Rewritable." A DVD-RW is like a DVD-R but can be erased and written to again. Like CD-RWs, DVD-RWs must be erased in order for new data to be added. DVD-RWs can hold 4.7GB of data and do not come in double-layered or double-sided versions like DVD-Rs do. Because of their large capacity and ability to be used mulitple times, DVD-RW discs are a great solution for frequent backups. To record data onto a DVD-RW disc, you'll need a DVD burner that supports the DVD-RW format.
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This page contains a technical definition of DVD-RW. It explains in computing terminology what DVD-RW means and is one of many hardware terms in the TechTerms dictionary.
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