Undergraduate research takes many forms.
Generally, you work closely with a faculty member or with several people on a specific research problem. The work may be either theoretical, such as inventing a new algorithm, or applied, such as the design and implementation of a new software system. Doing research is a good way to learn an area in depth and to get to know a faculty member well. Doing some research as an undergraduate can also help you decide whether to go to graduate school. In addition, it provides experience that could give you an edge later in applying to graduate school or in the job market.