How to explain this simply?
'Regular' film is negative film - that is colour and tonal values are reversed (light becomes dark, green becomes red etc)
The film is then printed onto paper to give a positive image (everything is reversed again).
In 'slide' (more properly 'transparency' or 'tranny') film the image comes out positive in the first place.
This is done by developing, re-exposing and re-developing.
That is, instead of producing a neg and then printing it in the D/R, the whole process is done during development.
Tranny was used primarily in Pro photography that was intended to be reproduced in magazines - for a number of technical reasons.
Because tranny is viewed by transmitted light (as opposed to reflected light with a print) the colours are richer, contrast better, and so on. A bit like looking at pictures on your PC monitor as opposed to prints.
If you need to ask why you would use it then the rule of thumb is 'you don't need to use it'.
Hope that helps. ;-)