As the name suggests Python time module allows to work with time in Python. It allows functionality like getting the current time, pausing the Program from executing, etc. So before starting with this module, we need to import it. The time module comes with Python's standard utility module, so there is no need to install it externally.

datetime.date.today(): This method returns the current date as a date object without the time component. It’s commonly used when only the date is needed without any associated time. The datetime module in Python provides a comprehensive set of tools for working with date and time formatting, comparisons, and arithmetic.

However, there are other uses for time outside of simply creating time objects, getting Python time strings, and using seconds elapsed since the epoch. One really useful Python time function is sleep(), which suspends the thread’s execution for a specified amount of time.

Python's timeit module is a powerful tool for measuring the execution time of small code snippets. It provides a simple way to time the execution of code and compare the performance of different approaches. The timeit module can be particularly useful when you want to benchmark different implementations and determine which one is more efficient.