Favorites allow you to save parameter values and layout changes (rearrangements, calculated fields, conditional formatting, etc.), so you can easily re-run a report at any time, just the way you want it.
If you find that you are running the same report over and over again, and you’re rather not manually specify the report’s settings each time you execute it, you can use a favorite to quickly execute the report using predefined (saved) settings.
The most common task when using Mercury is running a report, which typically involves selecting a report, specifying the report’s settings (or using a pre-defined favorite), and clicking the Run button.