Its the one of the best safey tools available. Ideally it should be called "trend monitoring'.
An airline fitted with the equipment can pick up deviations from standard ops procedures and rectify the situation before they become an issue. The idea is that the whole fleet is monitored and if there are for instance rushed approaches somewhere the problem can be rectified. It may be an ATC problem or whatever, it can be addressed.
The beauty of the system is that training can be adjusted to address the problem. Not only that but feedback from the system will tell you whether the fix is effective.
It goes without saying that the pilots or the relevant union have to be heavily involved in the process and it is kept confidential.
It is so good that it should say on your ticket that this airline has it - so fly with us!