As far as I understand it, and they do try to make it very hard to understand it at times, if Trump is able to win enough votes during the Caucuses then he becomes the Republican party nomination for the presidential run to face off against whoever the Democrats elect.
It's way too early to be certain which way it'll go on either side, Cruz won an early victory, but Trump still leads in the polls, however both his and Cruzs poor performance in the latest GOP debate may cost them a few votes.
The day when we should have a better idea of how things are panning out is 'Super Tuesday' which is when a good portion of the US states do their voting, which is March 1st in this election.
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