Virtualization
Virtualization allows you to run multiple operating systems on a single computer. This differs from multi-booting in that it allows you to run multiple operating systems at the same time. Virtualization is more cost effective than multi-boot simply because it does not require expensive hardware upgrades. It's also easier to manage, has a reduced backup time, and allows businesses to consolidate servers.
One example of a virtualization software is VMWare Fusion, shown in the video below:
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