In computer graphics and cinematography, high dynamic range imaging (HDRI for short) is a set of techniques that allow a far greater dynamic range of exposures than normal digital imaging techniques. The intention is to accurately represent the wide range of intensity levels found in real scenes, ranging from direct sunlight to the deepest shadows.
For example, this gives the opportunity to shoot a scene and have total control of the final imaging from the begining to the end of your photography project. A concrete example would be that it gives you the possibility to re-expose. Basically, it is like being on set of location and capture the widest information as possible and choose after what you want.
From wikipedia.