Wikipedia defines User Experience as: a term used to describe the overall experience and satisfaction a user has when using a product or system. It most commonly refers to a combination of software and business topics, such as selling over the web, but it applies to any result of interaction design. Interactive voice response systems, for instance, are a frequently mentioned design that can lead to a poor user experience.

Nathan.com defines users experience as : The overall experience, in general or specifics, a user, customer, or audience member has with a product, service, or event. In the Usability field, this experience is usually defined in terms of ease-of-use. However, the experience encompasses more than merely function and flow, but the understanding compiled through all of the senses.

So what exactly is User Experience?
At the highest level it is the feeling a user has before, during and after using your site (or web application).

User experience mixes principles like usability, visual design, business objectives, information architecture and navigational design (to name a few) all together to produce a set result. If done correctly this result will be a website with a good user experience. Different types of websites produce different types of experiences however the fundamental principals are the same. You might compare user experience to baking a cake. The cake flavor may be different yet the core ingredients are the same.

Also, much like a cake where no one ingredient can stand alone neither can one experience principle. It is the collective whole that forms the basis of the experience.

Creating an experience that meets the need of your customers as well as your business is challenging. However, when done correctly the benefits of user experience is a big competitive advantage.