Strapi is an open-source headless content management system for Node.js-based applications, allowing developers to create customizable APIs that can be integrated into their application quickly. It's suitable for modern web development architecture 'Jamstack' and offers various modeling types such as Content Type Modelling, which deals with the structure of content in a database, and Component Modelling, where data structures are used across multiple API models. Strapi provides lifecycle hooks to manage custom ORM queries, one-way, one-to-one, many-to-many, and polymorphic relationships among content types, and allows for attribute validations using native SQL constraints or MongoDB's JSON validation. It also offers model options in the JavaScript file and can be used everywhere in the project without being limited to a subfolder, making it a popular choice over Component Model System. Understanding lifecycle parameters and how they work is beneficial when implementing Content Type Modelling.