Explanation
A record-based trigger is a component that causes a flow to run after a record has been created or updated in a specified table1. It allows users to define conditions and actions for the flow based on the record's state and values1. For example, a record-based trigger can start a flow when a new incident is created or when an existing incident is updated with a certain priority1.
References
Flow trigger types - Product Documentation: San Diego - ServiceNow1