This is the word you use when you want to explain something but don't actually have any depth of knowledge. Just say 'basically' a whole bunch and everyone will still think you're super smart and thank you for shielding them from potentially complex concepts.
You: Sure I can explain nuclear fission. You basically have like neutrons and electrons and whatever and they basically go buckwild on each other and that make heat
Your idiot friends: you are a gentleman and a scholar