What does the "Track in all countries" usage policy track?

I've seen this option whenever I've gone to monetize a video and I'm not really sure what it does. All I can find about about it online is that it "tracks views", but doesn't YouTube already do that through analytics? What exactly does this option track that YouTube wouldn't if I just monetized the video? What's the difference between this and just monetizing the video (other than not showing ads)?
 
It helps you better know your audiences preferences. Youtube uses cookies whether it tells us or not so with viewers recent search history Google associates that with advertisements and sends their research back to you for your own use.
 
It helps you better know your audiences preferences. Youtube uses cookies whether it tells us or not so with viewers recent search history Google associates that with advertisements and sends their research back to you for your own use.
So I can see viewers' recent search history? Anything else? Also, how do I access that stuff?
 
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