Baud rate is nothing but the speed of data transfer. Just similar to the speed of typing. Some typist can type very fast and some very slowly. In data communication if the sending speed is 900 bytes/second and the receiving side can only receive at 100 bytes/second, The receiver would not be able to understand what the transmitter is talking about. That's why the sending speed must be the same as receiving speed (synchronisation).
Since sending a byte needs about 10 bits (1 start bit, 8 data bits and 1 stop bit). At 9600 buad means 9600 bits/second which is about 960 bytes/second.
Allen