Data binding is the ability to take the value of a list of data, such as a set of RSS feeds, and use it to populate a control, such as a ListView. We can tailor which data we extract using templates. We'll show how binding is even more flexible than that, allowing updating of the UI as the underlying data changes, along with sorting, filtering and grouping.
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Here is one more good article on basics of Data Binding in Windows Store Apps using XAML