Also known as TWRP, Team Win Recover Project is a utility used to backup and recover your Android device, even when switching between custom ROMs. Version 2.0 worked on a limited selection of devices like Nexus S, Kindle Fire, and TouchPad. With the release of 2.1.2 brings support for Honeycomb tablets and ICS phones like the Galaxy Nexus, and now for the first time supporting the Transformer Prime. Also introduced by Team Win, is an OpenRecoveryScript function that lets apps influence the recovery process by allowing an app to send commands to the recovery for the recovery to perform during startup.

Key Features:
• Touchscreen driven with real buttons and drag-to-scroll
• XML-based GUI that allows full customization of the layout – true theming!
• Settings are saved to the sdcard and persist through reboots
• Ability to choose which partitions to back up and which to restore
• Ability to choose to compress backups – now with pigz (multi-core processor support for faster compression times)

Source: RootzWiki