Azure Machine Learning Studio provides capabilities for machine learning including anomaly detection, classification, clustering, recommendation, and regression. It allows users to import data from various sources, preprocess and transform the data, train models using built-in algorithms, and score trained models. Models and experiments can then be deployed as predictive web services to enable real-time machine learning predictions at scale. The studio offers a drag-and-drop visual interface and supports common data formats and languages like R and Python.