What is a fuzzy match?

Can someone please explain to me what is a fuzzy match?

Thanks!

A fuzzy match is, when you already have a translation memory, a segments that is similiar but not the same as one you had already translated.
For example, you translated something that says "the house is green". Then you receive a translation where a segments reads "The house is blue". Here you have a fuzzy segments.
Fuzzies are shown with their correspondent percentage of acurace with the previous segments already translated.
If we used the example above, we have only 1 word out of 4 that is different, then we have a fuzzy of 75%.
Hope this makes it clear.

Thanks FedericoP!! Does that mean that fuzzy matches cost less the new words but more then repeated words?

Exactly that. Because it simpifies the task of the translator (assuming that the previous segments was well translated)

Is there a standard discount that I can expect for fuzzy matches i.e 50% or what not?