Technically it's S-ATA but everyone just uses SATA.
SATA is the new way of connecting components inside a computer. Well, not new exactly, it's already on it's 3rd generation.
Serial ATA {don't know what ATA stands for} is much faster and more stable than PATA or Parallel ATA, which is being phased out.
Another good thing about SATA is that the the cables are much smaller than their PATA counter parts. This helps keep the inside of your computer tidy which increases air flow, so you get an extra bonus there as well.