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Latency in networking is defined as the time it takes for data to travel from the source to the destination. This measure reflects the delay that occurs during the data transmission process, which can be influenced by various factors such as the distance the data must travel, the number of devices it passes through, and the types of connections involved.

Understanding latency is crucial for assessing network performance. For instance, low latency is particularly important in real-time applications, such as online gaming or video conferencing, where delays can significantly affect user experience. High latency, on the other hand, could result in noticeable lags, impacting the usability of applications and services.

The other options relate to different aspects of networking. The maximum data rate of a network refers to the bandwidth, the total amount of data transferred in a session pertains to the throughput, and the frequency of data packets transmitted would connect to the network's performance characteristics but not specifically to latency. Each of these terms plays a role in understanding networking performance, but they do not define latency itself.