I have read and heard about this term again and again but not able to understand, Can you please explain what this term is and does this impacts SEO of a site.
This term only be used when you try to migrate your domain from old to new one, the time of migration you need to do correct 301 redirect of all your content which have authority backlinks, if you don't use this then there is possibilities you will lost all of backlinks from your old content. Which is called "Link Juicy".
There are two types of links: Internal & External. Link Juice points to the importance or weight-age of the Link. The Quality & Volume of links are the significant factors for the search engine factor. It also refers to power or equity passed to a site via links.
Link juice is a term popular in the SEO industry. It is basically the power of a link to another page. Link juice flows through inbound links. It is referred to the authority, value, or relevance that a specific link imparts to another page it is linking to.
Link juice refers as Link= the external or internal links which directs to your website Juice= traffic from various different places. This also helps in determining your site's search ranking. More your site is being refereed higher will be the ranking.
For example: If you have optimised one particular webpage in your website. Where it has backlinks and high SERP's. Now if you want to remove that webpage from your website still you can get the (Backlinks/Value) link Juice to other page where it is redirecting. Use only 301 server side redirect.
the term juice is familiar in SEO, The amount traffic we get through external or internal links is referred to as juice
The term Link Juice is also called as Link Weight which considers a model when the inbound links flow from one website to another depending upon the number & location of links on the page.
Link juice is a colloquial term in the SEO world that refers to the power or equity passed to a site via links from external or internal sources. This power is interpreted as a vote of recommendation toward your site and is one of the most important factors in determining your site’s search ranking (and PageRank).
Describing the distribution of backlinks within a webpage and the strength or reputation of these links. Both the number of these links determine the composition of the link juice.