I understand that the derivative of a function $f$ at a point $x=x_{0}$ is defined as the limit $$f'(x_{0})=\lim_{\Delta x\rightarrow 0}\frac{f(x_{0}+\Delta x)-f(x_{0})}{\Delta x}$$ where $\Delta x$ is a small change in the argument $x$ as we "move" from $x=x_{0}$ to a neighbouring point $x=x_{0}+\Delta x$. What confuses me is how to interpret its meaning correctly, that is, what does the derivative $f'(x_{0})$ actually describe?
On Wikipedia it says that "the derivative of a function quantifies the rate at which the value of the function changes as we change the input" (or words to that effect). However, the function has a particular constant value, $f(x_{0})$ at a given point $x=x_{0}$ so how can one meaningfully discuss the rate at which the value of the function is changing at that point?
Would it be correct to interpret the derivative of a function at a point as describing how "quickly" it's value changes as we move from that point to (infinitesimally close) neighbouring points? (As such in the example above, in moving from the point $x_{0}$ to $x_{0}+\Delta x$ the value of the function $f$ changes by an amount $f'(x_{0})\Delta x$ for infinitesimally small change $\Delta x$). Is it then simply that the value of the derivative at that point equals the slope of the tangent line to the the function (curve) at that point? (In general then, the derivative of a function is itself a function whose value at each point equals the slope of the tangent line to the curve at that point).
Your understanding of the derivative is correct. The only thing I would slightly reword is instead of saying
"in moving from the point $x_{0}$ to $x_{0}+\Delta x$ the value of the function $f$ changes by an amount $f'(x_{0})\Delta x$ for infinitesimally small change $\Delta x$"
I would write
"in moving from the point $x_{0}$ to $x_{0}+\Delta x$, the amount that the value of the function $f$ changes approaches $f'(x_{0})\Delta x$ as $\Delta x$ approaches 0"
The reason I say this is because in many cases, there is no actual value of $\Delta x$ such that the change in $f$ from $x_{0}$ to $x_{0}+\Delta x$ actually equals $f'(x_{0})\Delta x$, as there is no actual number that is infintesimally small.