What does Tao mean in Chinese?

Could you please clarify for me the significance of the word "Tao" in the context of Chinese culture and philosophy? I understand that it holds a profound meaning, but I'm curious about its origins and how it's commonly interpreted in various philosophical traditions. Is it akin to a universal principle or way of life that guides people towards harmony and balance? I'm fascinated by the depth and complexity of Chinese thought, and I'd love to gain a deeper understanding of this central concept.