It stands for "Digital Audio Workstation". Or Donald A. Wollheim (an editor whose initials give DAW Books, a line of sci-fi/fantasy paperbacks from Penguin, its name). Or the United Nations'...
Another word for this is "Acronym". It means to shorten about 3-5 words by only using the first Letters of each word, therefore shortening it. One of the most popular usages of Abbreviated words is...