Translation vs Localization

So they are two different things?  Okay that is my first learning nugget.  I just saw your post about a Localization webinar, and I made the assumption that localization was the new translation.  I just did my first translations request.  I exported the translation, sent it to my translator and had them update the table.  I imported the French table into Storyline, and I was impressed at how well it did.  Obviously French create additional text so we had to format some slides and move things a little but not bad.  So now I am curious what localization is, thinking I don't have to send it to a translator with the table export?  I will read the articles and hopefully can attend.  I have 15 Mental health modules to translate so I am definitely curious.  Also will be curious I have one we are working on that has a lot of variables and hoping it works well.  I can't recall but I think the down side of translation is I don't think it translated any alt text...but we are still working on it.