Every class in Black Desert has a variety of skills at their disposal, each with a few specialized roles in combat. Aside from unlocking new levels of these skills to increase their power, there are utility effects you can "Awaken" upon reaching level 48 within the game.
The ability to awaken additional effects out of your skills can be accessed via the black spirit menu ( " / " key by default ), and opening the "Skill Awakening" menu item. After opening the menu, you can select a skill you'd like to power up and spin the wheel for a random effect to be added.
The types of effects are left up to chance, but most range from mana restoration on hit, additional accuracy upon hit, and health regeneration on successful hit. Some lucky few will roll quite powerful variants of these boosts which can prove very helpful in battle.
Should you receive an undesired effect on your skill during an awakening you are fortunately not stuck with said effect. There is a system within the game that allows for you to reset (at a cost) the awakened ability.
However this is not intended to be cheap or easy, the first key difference is the requirement of being actually level 50 to utilize the reset, as well as possession of two of the item called "Fragment of Memory" (obtainable via in-game), or the equivalent type purchased from the BDO store for real currency.