Parsing = to analyze (a string of characters) in order to associate groups of characters with the syntactic units of the underlying grammar.
Within computational linguistics, the term is used to refer to the formal analysis by a computer of a sentence or other string of words into its constituents, resulting in a parse tree showing their syntactic relation to each other, which may also contain semantic and other information.
Parsing = breaking a data block into smaller chunks by following a set of rules, so that it can be more easily interpreted, managed, or transmitted by a computer.