Explanation

Al-Azeem is The One who is the greatest, mightiest, grandest, and above all, The One who is of the greatest importance, The One who is magnificent, vast, and most revered, and The One who is of perfect and absolute greatness.

The word Azm has numerous Arabic connotations such as to be great, large, big, to be vast, huge, enormous, to be great in rank, importance, or dignity, to be imposing, powerful, superior, to be magnificent, honored, revered, sublime, to be immense, stupendous, lofty and to be above imperfection.

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Quran References

Allah – there is no deity except Him, the Ever-Living, the Self-Sustaining. Neither drowsiness overtakes Him nor sleep. To Him belongs whatever is in the heavens and whatever is on the earth. Who is it that can intercede with Him except by His permission? He knows what is [presently] before them and what will be after them, and they encompass not a thing of His knowledge except for what He wills. His Kursī extends over the heavens and the earth, and their preservation tires Him not. And He is the Most High, the Most Great.  (Quran 2:255)

To Him belongs whatever is in the heavens and whatever is in the earth, and He is the Most High, the Most Great.  (Quran 42:4)

So exalt the name of your Lord, the Most Great. (Quran 56:96)