Input - By Value

Allows you to do an operation on a cell based on the content of another cell.
For example, you may want to update column B with value Home where column A has a value of Location so that you end up with A:Location, B:Home.
Very handy to write/read cloud variables in Tasker for example.

Value Column

The cell where you want to search for a certain value.
This is not the cell where the main operation will take place, but simply a lookup cell.

Value To Look For

The value that should be in the cell above so that the operation can take place in the cell below.

Delete/Format/Update/Get/etc Column

The letter corresponding to the column where you want the main operation to actually take place.
For example, if you're deleting a cell's contents, this is the column where the cell's contents will actually be deleted.
The rows to be deleted will be the ones that match the criteria above.