What does it mean to be Turing complete and how does it impact the capabilities of a computing system?

Being Turing complete means that a computing system can perform any computation that can be done by a Turing machine. This impacts the capabilities of a computing system by allowing it to solve a wide range of problems and execute any algorithm that can be expressed in a formal language. In essence, being Turing complete signifies that a system is powerful and versatile in its computational abilities.