This functionality can be used to schedule various O365 reports. In order to schedule reports:
Click on Schedule New Report
Enter the name and description of the report
Select the O365 account
Select the report which you are scheduling
Use the filtering options to set a filter
Select the schedule at which the report should be generated using the Generate Reports drop down menu
Select any one of the 4 report formats: PDF, CSV, XLS, and HTML
Select the "Email this scheduled report" check box to receive the report as an email
Enter your email address. In the case of multiple addresses, separate them with a comma.
Click on Create to schedule this report