The inspector window is the toolbox in all things Apple. It allows you to change settings in your application related to content applied inside of your project. As you select different items in your project, the contents of the inspector window will also change, so you are always able to go back to the properties of that object.

The reason these items are contained in one window is to keep all of the information in one location. However, you may want multiple inspectors that contain different sections open at the same time. There is a quick way to get each tab into its own inspector.

Just hold the Option key while clicking on a tab, and another inspector window will appear with the settings of that tab. Using multiple inspector windows is a great way to arrange them around your screen for easy access.