Step 1: Understanding the Concept:
Mode is a statistical term used to identify the most frequent observation in a distribution.
Step 2: Detailed Explanation:
In a series of numbers, the mode is the value that has the highest frequency.
For example, in $\{5, 8, 8, 10, 12\}$, the mode is 8 because it appears twice (maximum frequency).
Step 3: Final Answer:
The value that occurs the "maximum" number of times is the mode.