When you've filtered and arranged a list exactly how you want it, you can save that view as a report so you (and your team) can run it again without rebuilding it.
On a list, filter it down and arrange the columns the way you want (sort, group, show/hide columns).
Save it as a report, giving it a clear name and a category so it's easy to find later.
A saved report remembers both your filter (which records) and your column layout (how they're shown), so it looks the same every time you open it.
These are close cousins — both remember a filter:
A segment is a saved filter you switch to right on a list. Great for day-to-day work.
A saved report is a named, reusable view that lives with your reports, with its columns and grouping preserved — better when you want a repeatable, shareable "report" rather than a working list.
Use whichever fits; for a quick reusable view, a segment is enough, and for something you'll run and share like a report, save it as a report.