Bifurcation is a process in which something splits in two.
Bifurcation is a word that sounds fancy but has a very simple meaning: splitting or cutting in two. If a stream divides into two smaller streams, that's a bifurcation. If you split a company into two divisions, that's a bifurcation too. This word can also refer to the exact spot where one thing splits into two. Since bi means two in many words, such as bimonthly, that's a good reminder of what bifurcation means.