The ratio kcat/Km is a crucial parameter in enzyme kinetics that measures the efficiency of an enzyme in catalyzing a reaction. Specifically, kcat represents the turnover number, which is the maximum number of substrate molecules converted to product per enzyme molecule per unit time when the enzyme is fully saturated. Km, or the Michaelis constant, indicates the substrate concentration at which the reaction rate is half of its maximum value. Together, kcat/Km provides insight into how effectively an enzyme can process substrates under varying conditions.