This option allows you to save a view of the worksheet with autofilter on or columns/rows hidden and any print setting retained, allowing you to quickly replicate several different 'reports' from the same data.  To add a new view, simply press the Add.. button to fire the dialog below.

Remember to save a 'Normal' view, unfiltered, unhidden, etc before you start to save other 'views' of the data.a.

You could for example have two views using the same filtered column, so you would have a 'sales over £100' view and a 'sales under £100' view, for example.