In Nvidia's nomenclature, the first digit is the generation. So this, latest generation cards are labelled "7xx", and the revision before were "6xx", and generation before "5xx" and so on so forth.
The second digit is the tier of card. For instance, the 780 is essentially the top tier of card in this generation. With the 770 being slightly slower, the 760 slower still and again, so on so forth.
With each generation there are slight changes either way, in that there may be something architecturally that's radically different between two cards;
For instance, the Nvidia 770 is essentially a rename of the 680. Exactly the same board, same chip, same everything (apart from clock speeds, which have been increased). Whereas the 780 is based on a different chip altogether, based on the chip used inside the Titan.
In layman's terms, the higher the number, the faster the card. Not always the case, but this is true in most cases.