After installation the Component can be found in the back-end via Components > Options Manager. The Component has two major functions: Global Options and Menu Item Options.

Global Options

Most Joomla Extensions have an [Options] button where you can configure the default Options
that are used for the whole website : the "Global Options".

 Problem: manually configure Global Options for every new website

In every NEW Joomla website you have to configure the Extensions' Global Options again, and again.
That involves a lot of clicking, clicking, clicking, checking, clicking, checking, clicking and checking.

 Solution: Export and Import your Global Options

Save and export your favorite Global Options and import them in your Joomla websites.
See: Components > Options Manager > Global Options

With Options Manager you can Export and Import your Global Options
and use Activate Options to switch between the Imported Global Options and the previous Configured Global Options.

Activate Options
Extension Previous Options Imported Options
 does NOT have Global Options  No previous Options  No Imported Options
 has Global Options  Global Options = Previous Options  Global Options = Imported Options
   Click to choose Previous Options  Click to choose Imported Options
 Global Options have been changed  Global Options have been changed  Global Options have been changed


 Menu Item Options

Most Menu Items link to a component view that has individual display Options which can be configured:
Use "Use Global" to use the settings configured in the Extension's Global Options
or manually configure the Menu Item Options to your liking (which override the Extension's Global Options).

 Problem: Menu Item Options vs Global Options

Once you have configured your Menu Item Options individually,
you cannot easily see the differences with the Global Options:
You have to open every Menu Item to see its configuration.

 Solution: Menu Options Checker

With Options Manager you can easily see which Menu Items have Options
that are different from the Global Options.
See: Components > Options Manager > Menu Options 

Menu Options Checker
0 = Global Options available Which Global Options are available for the Extension?
0 = Menu Item Options set to Global Front-end display will change when the Global Options change
0 = Menu Item Options set and same as Global Might cause issues in future when you change Global Options
0 = Menu Item Options set and different from Global Menu Item will display view that differs from Global Options