There are three main points about data streams and stream processing: 1) A data stream is a continuous, ordered sequence of data items that arrives too rapidly to be stored fully. Common sources include sensors, web traffic, and social media. 2) Data stream management systems process continuous queries over streams in real-time using bounded memory. They provide summaries of historical data rather than storing entire streams. 3) Challenges of stream processing include limited memory, complex continuous queries, and unpredictable data rates and characteristics. Approximate query processing techniques like windows, sampling, and load shedding help address these challenges.