I found the following article at ZDNET which explains about the Google's Privacy Dashboard. This article covers about the main features which enables the users to see all their Google information including chatting, search preferences and surfing routine using this application.
The more Google products you use, the more data it collects about everything you do online—your search history, your emails, the blogs and news sites you read, which videos you watch on YouTube, your news alerts, tasks ,and even shopping lists. For some of these, you need to explicitly grant Google permission to keep track of data associated with your profile. But it’s hard to keep up with everything Google is tracking. So now the company is launching a Google Dashboard, which will give you a high-level summary of everything Google knows about you by virtue of the Google products you use. This might include how many emails are in your inbox, recent subject lines, which YouTube video you’ve watched lately (yes, all of them), appointments on your calendar, and more.
If you want more detailed data, it sends you to the particular data repository for that product. And for security purposes it does not create a second database of all the data, it just brings it up in your browser without restoring it server-side.
The Dashboard is only for Google products which require you to sign in with your Google account. It does not include cookie-based data Google collects through DoubleClick ads or other ads.