No new table is created. Data is stored in existing tables.

Trackers appear to be designed to allow you to, well, track things. I'm sure that the original intent was to track bugs in the software, but they've made it an open ended system where you can track whatever you want. One bit of documentation I read said it is more of a forms editor, so you can devise trackers to collect any kind of information that you want, but all items appear to get the status of open, pending, or closed, so there is still a notion of "tracking" regardless of the content.

We have just set up a tracker to help us track the production status of items in our application. Since they can exist on many layers (hand coded files, database objects and procedures, input data files, generated templates, etc.) it's hard to make sure that everything has been pushed from development to test to production. We're just setting it up, but it looks like will work well without me having to go find yet another package to do this sort of thing.