I will try to explain it to you very easily why it is done and why.
When you use MIDI or even play by your own hand, notes get played either a tad quicker or a tad later than expected. When this happens, it is called drift. When you have a song, you want the beat to hit on the first 1/16th every time, not the 1.01/16th or the .98/16th. Time correction maps these drifted sounds (almost always sounds) onto a grid that makes everything timed exactly right. BT spends a lot of time doing this and I do it to an extent in my tracks too.
Depending on your equipment, you may (or may not) have to do time correction.
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