Cron jobs are some jobs that you wish the server to execute automatically at a specified interval. You can do this on you your scripts, if required, by using cpanel's built in cronjob handler.
Its basically setting a schedule for your script or what ever you are doing to run. So say you have a shop and it gets 5 posters in every 24 hours. They are always the same poster so, you want it automatically inserted into your database. Thats where cron jobs come in. You cen set a cronjob to run a php script every day at midnight. The php script will insert 5 new posters into the database. Cron jobs just set a time at which you want a script or whatever to run. I use cron jobs for my game, to make it update scores etc.