The smallest unit of measurement in computing is the bit. A bit, short for binary digit, can have a value of either 0 or 1, which represents the basic building block of data in digital systems. Bits are combined to form larger units of data, such as bytes, where one byte consists of 8 bits. In computing, information is processed, stored, and transmitted using bits, allowing for complex operations and functions. The concept of bits is foundational in computer science and digital electronics, influencing everything from programming to data storage and transmission.