Meaning of the word "Based on" in English

What does "Based on" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

Based on

US /beɪst ɑn/
UK /beɪst ɒn/

Phrase

using as a foundation or starting point for something

Example:
The movie is based on a true story.
My decision was based on the information you provided.