Hello Vaibhav,
This outbound plug can be used to navigate to a component without any need to know its implementation which is also called Generic mapping for cross-component navigation. In outbound plug you must provide an appropriate data collection for the target component.
Here you define UI object type and action.
Instead of mapping a specific outbound plug to a specific inbound plug, combinations of UI object type and UI object action are mapped to targets.This means that for example component 1 and component 2 outbound plugs – which use the same combination of UI object type and UI object action – share the same target.
Hope it helps,
Regards,
Ashik