It searches for (some) settings in the control panel. So you could search for file, and you should get a result/link to the file manager. Similarly, searches for category, channel, username should all return results with links to the respective areas of the CP.

However, the search results aren't consistent. Search for security and you don't get any results, yet a search for session gives a result for the Security and Session Preferences.

I'd say its there for someone who has limited knowledge of EE general options and wants to access some of the preferences, but can't find them.

Not entirely useful though!

EE control panel dashboard search field
I have an iPhone 4s that is still running iOS 5.1.1. Why is it not possible for me to update my device to  a newer version of ios without going all the way to the latest?
