Today morning I discovered that i have gained the access to moderation tools privilege. That is obviously delighting news. But when I looked into the privileges, suddenly I felt lost. So many options and tools are there. I am really happy to gain access to this tools of this site and really want to moderate it to make it a better place for Q&A format for which it was intended. But as of now I am not getting any clue as to how can I manage the tools efficiently. So I need some quick advices from experienced users with moderators tools to help me understand the nuances of moderation.
You've earned the right to see (and undelete) deleted posts, and vote to delete questions that have been closed for 2 days.
You also have access to these moderation tools:
posts flagged as offensive or spam recently deleted posts recently closed questions recently imported questions see all recent edits in chronological order new posts by new users questions with newly created tags new answers to old questions recent questions with most view velocity recent questions with most edit velocity recent questions with most vote velocity recent wiki changes recent wikis created
You have received access to statistical data nothing but moderator tools by which you can moderate site.
Honestly, the best tools were already available to you - the ability to vote, close and most importantly comment. Comments are especially useful as they help guide users and explain to them what they are doing right or wrong here.
@SommanthMuluk has listed the new tools you have available and linked to a useful SO post asking the same question (thanks). If you find something that looks wrong, or you think should be changed, flag the post or chat with a diamond mod.
I would just encourage you to be a supportive member of the site - ask and answer questions, be generous to others on the site too.
Finally - don't get too used to these tools. As and when we graduate to a full site - these become the 10k tools, so several of us may loose them for a while.