Welcome to our intriguing session for today! We're diving into an essential topic in computer science and data structures: Linked Lists. These structures comprise a sequence of nodes. Each node holds some data and a reference (a link) to the next node, thus forming a chain-like structure.

The concept of linked lists is leveraged in many real-world scenarios. For instance, in a music playlist where songs can be dynamically added, deleted, or reordered, linked lists serve as an excellent solution thanks to their efficient operations.

A linked list is a collection of nodes, each acting as a container for its data and a pointer (link) to the next node in the list. This link greatly facilitates sequential traversal through the list.

Here is a simple visualization of a node:

A node consists of two parts: Data, which contains the stored value (that could be any type such as number, string, etc.), and Pointer to Next Node, which holds the link to the next node in the sequence. When a node is initially created, next is set to None because there is no subsequent node to point to.

Think of it like a treasure hunt game, where each clue leads to the next one, and the chain continues until we reach the final destination.

Now you might wonder, why opt for linked lists when we already have arrays? The answer isn't definitive, as both have their uses. Choosing one over the other completely depends on the specific problem and requirements at hand.