Question

What is the difference between classification and prediction in machine learning?

Answer 1

Classification is about classifying categorical variables in a predefined vocabulary based on training examples. For Example Classifying Spam and Non-Spam Mails. Prediction of numeric (continuous) variables is called regression.  
In summary, classification and Regression in machine learning we are trying to predict the outcome. The difference is with respect to the values like categorical or discrete values used for classification and continuous values used for Regression.