What does the 'Audi parking system' mean and how does it work?

I recently purchased an Audi A2 and noticed the 'Audi parking system' in the features. Can you explain what this means and how it works?

The 'Audi parking system' is a feature that uses sensors and a rearview camera to help you park your car safely and accurately.

It uses sensors located on the front and rear bumpers to detect objects and provide visual and audio warnings to assist with parking.

Once you engage the parking system, you can slowly move backwards while the system guides you using the display screen and beeping sounds.