Neural Networks -- What is it and Why does it matter?

Neural networks are a set of algorithms, modeled loosely after the human brain, that is designed to recognize patterns. They interpret sensory data through a kind of machine perception, labeling, or clustering raw input. The patterns they recognize are numerical, contained in vectors, into which all real-world data, be it images, sound, text, or time series, must be translated. Neural networks can adapt to changing input. So the network generates the best possible result without needing to redesign the output criteria.