Allows a site administrator to create customized layouts for multiple uses

The Panels module allows a site administrator to create customized layouts for multiple uses. At its core it is a drag and drop content manager that lets you visually design a layout and place content within that layout. Integration with other systems allows you to create nodes that use this, landing pages that use this, and even override system pages such as taxonomy and the node page so that you can customize the layout of your site with very fine grained permissions.
Panels 3 utilizes the CTools' system of "context" so that the content you place on the page can be aware of what is being displayed. For example, in the existing Drupal setup, a block has no real knowledge of what the primary page is displaying. There are all kinds of tricks and tools you can use to get information to the blocks, but this generally means writing PHP code to scan the URL and pull the data out, which is not a very good thing when that data should already exist. Find out more  
by TAATJENE

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