Disk encryption software
Disk encryption generally refers to wholesale encryption that operates on an entire volume mostly transparently to the user, the system, and applications. This is generally distinguished from file-level encryption that operates by user invocation on a single file or group of files, and which requires the user to decide which specific files should be encrypted. Disk encryption usually includes all aspects of the disk, including directories, so that an adversary cannot determine content, name or size of any file. It is well suited to portable devices such as laptop computers and thumb drives which are particularly susceptible to being lost or stolen. If used properly, someone finding a lost device cannot penetrate actual data, or even know what files might be present.
Data erasure
When encryption is in place, data erasure acts as a complement to crypto-shredding, or the practice of 'deleting' data by (only) deleting or overwriting the encryption keys. 
Presently, dedicated hardware/firmware encryption solutions can perform a 256-bit full AES encryption faster than the drive electronics can write the data. Drives with this capability are known as self-encrypting drives (SEDs); they are present on most modern enterprise-level laptops and are increasingly used in the enterprise to protect the data. Changing the encryption key renders inaccessible all data stored on a SED, which is an easy and very fast method for achieving a 100% data erasure. Theft of an SED results in a physical asset loss, but the stored data is inaccessible without the decryption key that is not stored on a SED, assuming there are no effective attacks against AES or its implementation in the drive hardware.