VirtualBox is a virtualization application that permits to install and use multiple operating systems, with all benefits and features, on a single computer. Is developed by Oracle and can be installed on most popular operating systems.
Instead having multiple computers with different operating systems, VirtualBox, an open source alternative for VMware, allows to install different versions of the same OS of different operating systems on the same computer, in this way reducing costs and allowing to test, deploy or use regularly applications in different versions of Windows (XP, 7, 8 ..) or in different systems (Mac and Linux installed on a Windows PC, Windows installed on a Mac and any other combination).