Hi, ASNeelima. The Shortcuts and Explorer tabs are very similar. The only real difference is that Shortcuts are curated (commonly used fields, predefined filters, etc.), while the Explorer shows all fields available (based on access) within the resource.
In general, if you are comfortable with the Explorer tab, you'll probably never need the Shortcuts tab, however, if you prefer Shortcuts, there may be some instances where you will have to use the Explorer tab to locate something specific within a resource.
Regards,
Craig