The Live Stream allows a user to view everything that is happening in the installation that relates to them. In the case of admins and managers, if a user creates a new Contact, or edits a Company’s information, or schedules a new Event or Goal in CRM, the admin/manager will see these actions as items as entries in their Live Stream. From there, they will be able to quickly see who is responsible for the action, and they can also easily click the entry to jump to the corresponding portion of the dashboard for more details. The Live Stream tracks actions from throughout the installation, from estimates and invoices in Billing, to tasks and projects in Planning, goals and events in CRM, etc. To view your Live Stream, you will want to add it as a corresponding widget on your Dashboard.
You can read more about customizing your Dashboard widgets HERE