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In terms of network latency this can be defined by the time it takes for a request to travel from the sender to the receiver and for the receiver to process that request. In other words, the round trip time from the browser to the server.
Latency is delay. For our purposes, it is the amount of time it takes a packet to travel from source to destination. Together, latency and bandwidth define the speed and capacity of a network. Latency is normally expressed in milliseconds. One of the most common methods to measure latency is the utility ping. A small packet of data, typically 32 bytes, is sent to a host and the RTT (round-trip time, time it takes for the packet to leave the source host, travel to the destination host and return back to the source host) is measured.