Webhooks allow events that occur in one application to trigger actions in another application in real-time. They provide notifications about events as they happen without needing to manually check for updates. When an event like a delivery or click occurs, the source application sends data about the event to a URL via HTTP request. This allows for immediate synchronization of data and chaining of actions across different systems. Common uses of webhooks include notifications, order updates, and mailing list management. They provide an event-based approach compared to traditional APIs which use polling to check for updates.