Electronic correlations in solids are known to lead to the emergence of novel, unexpected phenomena, which are not only of interest for fundamental research but also have a great potential for technological applications. Hence there is a great need for appropriate theoretical techniques that allow for an accurate exploration of correlated electron materials. For a long time first-principles investigations of correlated materials were out of reach. During that time the electronic properties of solids were investigated by two essentially separate communities, one employing density functional theory (DFT), the other studying model Hamiltonians using many-body techniques.Here the Dynamical Mean-Field Theory (DMFT), whose development started more than 25 years ago, opened new perspectives. In contrast to single-particle theories the mean-field of the DMFT is energy dependent, i.e., dynamical. Thereby the local quantum fluctuations on the impurity due to the bath are fully taken into account. The only approximation of the DMFT is the neglect of spatial fluctuations. Thus DMFT provides a comprehensive theoretical framework for the investigation of correlated lattice models and can describe, for example, fluctuating moments, the renormalization of quasiparticles, and the correlation induced spectral-weight transfer between low-and high-energy states.To go beyond model studies and investigate real materials with strongly correlated electrons, the combination of DFT in the local density approximation (LDA) with the many-body DMFT, the so-called "LDA+DMFT" approach, was initiated 20 years ago. Starting from band structure theory, local correlations are taken into account by interaction terms which can be parametrized in particular by the Hubbard U and the Hund's rule coupling J. The resulting coupled, self-consistent LDA+DMFT equations have to be solved numerically, usually by employing quantum Monte-Carlo techniques.a