Saved data from a particular time or referesh data in Selection Formula

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In selection formula>Records

Formula Worshop-Record Selection Formula Editor window pops up.

after writing the programmiing logic there, a window pops up asking for either

Using Saved Data from a particular time or Refresh Data.

i.e.

I selected a table (Equipment) from Database :

Type LocationName

BTS HRSNPGHS116

GGSN HRSNPGNG045

MGW HRSNPGNN065

RNC HRSNPGNR066

SGSN HRSNPGNR067

BTS HRSNPGNR068

GGSN HRSNPGOH081

BTS HRSNPGOH083

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logic in Record Slection Formula Editor:

if {EQUIPMENT.Type}="GGSN"

then true

else false

it lists :

GGSN HRSNPGNG045

GGSN HRSNPGOH081

--------------------------------------------------------

if i change it to :

if {EQUIPMENT.Type}="BTS"

then true

else false

and using SAVED DATA FROM (TIME)

it lists :

BTS HRSNPGHS116

BTS HRSNPGNR068

BTS HRSNPGOH083

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When do i need to use Refresh Data tab within the popup window?