A cron job allows you to schedule a proces or command to run at a specific time. They can allow you to automate repetitive tasks or to schedule a task to occur when you are unable to complete it.
Cron jobs are very flexible as they allow you to automate any command that you can run.
For example: If you have a script that outputs all new signups for an event you are holding, you may wish to have that output emailed to you once a day or once a week. This script may be called "eventattend.cgi" and it may be located at "/home/user/scripts/eventattend.cgi". To get the output mailed to you daily, add a cron job to execute "/home/user/scripts/eventattend.cgi" every day at a specified time, and be sure to specify the email address that the output should be sent to.
Cron jobs are set up via your hosting control panel (cPanel) via Advanced tools > Cron jobs.