要するに
in short, basically, in a word
要するに、summary
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要するに sums up the essential point after a long explanation: 話は長かったが、要するに彼は反対なのだ, "he talked for a long time, but in short, he's against it".
It's close to つまり (N3), which can also rephrase or define. 要するに is specifically a summary: cutting through details to the core.
As a question, 要するに、何が言いたいんですか means "so what's your point?", which can sound impatient.
It often pairs with ということだ or だ at the end. It's common in both conversation and writing. When you are listening to a long, winding explanation, 要するに is the signal that the speaker's real point is about to come.
Examples
要するに、お金が足りないということですね。
In short, you mean there isn't enough money.
話は長かったが、要するに彼は反対なのだ。
He talked for a long time, but in short, he's against it.
要するに、何が言いたいんですか。
So what's your point?
要するに、練習が足りなかったんだ。
In a word, we didn't practise enough.
条件はいろいろあるが、要するに早い者勝ちだ。
There are lots of conditions, but basically it's first come, first served.