1. (sometimes capital) new, recent, or a new or modern form or development: neoclassicism; neocolonialism. 2. (Geological Science) (usually capital) the most recent subdivision of a geological period: Neogene. [from Greek neos new]. Also, esp. before a vowel, ne-.
Although optical telescopes are the type most commonly used for stargazing and amateur astronomy, lots of astronomical research is done on telescopes that look at other wavelengths of light. Each of these wavelength ranges shows us something unique about the universe and allows us to view events and objects that can't be seen with human eyes.
How does this information help us in today's world? There are a few technological developments which have come about because of astronomy (or, in many cases, because of the space exploration program, which is separate from the work that most astronomers do) and then turned out to be useful in other areas.