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The Panels module allows a site administrator to create customized layouts for multiple uses. At its core it is a drag and drop content manager that lets you visually design a layout and place content within that layout.
Panels 3 is the most recent version of Panels, and is a significant advance over Panels 2, although its user interface is similar.
Panels 3 is documented in detail and used for Drupal 7 and 8.