Scan Profiles allow you to collect certain information very quickly. Normal PDQ Inventory scans are collecting all software and hardware information, including printers, devices, etc. Using Scan Profiles you can create a scan just for applications. This is a FAST way to scan all of your computers. The larger your organization, the more time you will save by scanning for only the things that matter most to you.
Here's a (very fast) video showing how it's all done.
There is nothing new to install. Simply obtain a key (full or trial) and enter it into your PDQ Inventory console.