What is the role of the ViewModel component in the MVVM architecture?

The ViewModel in MVVM architecture is responsible for storing and managing the data needed for the UI, and ensuring its preparation for display. It separates the presentation logic from UI components, which allows maintaining state during configuration changes (e.g., screen rotation). The ViewModel interacts with the data model and provides data in a format convenient for the View, often using LiveData for automatic interface updates.