The advanced caching module is mostly a set of patches and a supporting module to bring caching to Drupal core in places where it is needed yet currently unavailable. These include caching nodes, comments, taxonomy (terms, trees, vocabularies and terms-per-node), path aliases, and search results.
The module maintains a series of dedicated cache tables and utilizes Drupal's caching API to safely and effeciently cache data. The main beneficiary from these caching strategies will be authenticated users who have only one role (ie, non-admins). This is a group of site users that are traditionally unaffected by Drupal's page cache mechanism.
How it does it
Beyond installing and enabling the advcache module, you must apply some or all of the patches that come with it. The typical pattern for applying patches is:
cd path/to/Drupal/
patch < sites/all/modules/advcache/search_cache.patch
You may have to answer some questions about the locations of the files that are to be patched.
Here is a description of the included patches and whether there are any reasons you shouldn't use them. WARNING: Three of the caching patches are known to have bugs in them and have been marked as broken. Please don't use them and revert them if you have applied them. Of course, patches to fix them are welcome!: