Kurtosis is a statistical measure that describes the shape of a probability distribution. It is a measure of the degree to which the distribution is peaked or flat relative to a normal distribution. A distribution with high kurtosis has a sharp peak and heavy tails, indicating that it has more extreme values than a normal distribution. A distribution with low kurtosis is flatter and has lighter tails, indicating that it has fewer extreme values than a normal distribution. Kurtosis is often used in finance, economics, and other fields to analyze the distribution of data and to identify outliers and anomalies.