As anon points out, it is just notation for the set of all functions $S \to \mathbb{R}$. When I first saw this notation, I found it confusing, but one of the benefits is that
$$\left|B^A\right| = |B|^{|A|}$$
where $|\cdot|$ denotes cardinality. You have to use cardinal arithmetic for infinite sets, but it still works.
A special case of this relationship is the fact that $|\mathcal{P}(A)| = 2^{|A|}$. To see this, first note that there is a $1-1$ correspondence between subsets of $A$ and functions $A \to \{0, 1\}$ given by the indicator function ($1$ if it is in the subset, $0$ if not). Then we have:
$$|\mathcal{P}(A)| = \left|\{0, 1\}^A\right| = |\{0, 1\}|^{|A|} = 2^{|A|}.$$