Plain English Meaning
A heads-up from ATC telling you about another aircraft nearby that you should know about, so you can look for it and stay clear.
Full Definition
Advisories issued by ATC to alert a pilot to other known or observed air traffic which may be in such proximity to the position or intended route of flight of the aircraft to warrant the pilot's attention. Such advisories may be based on visual observation, observation of radar returns, or verbal reports from other pilots.
Context Anchor
You may hear Traffic Advisories from air traffic control during , especially when another aircraft is close enough to to your .