One benefit of obtaining this information is discovering the exact name of the village or town from where your ancestor departed and to which city the immigrant was heading after arriving in port. Details like occupations, languages, and education levels are sometimes included, although primarily for arrivals after 1900.
This particular record (dated April 11, 1901) provides the following information: Full name of passenger; age; sex; marital status; occupation; nationality; last residence; port destination; final destination; how much money passenger held; whether previously in U.S.; name and address of relative joining; condition of health; and whether a polygamist!
The best strategy for researching immigration records is to have low expectations and patience. A trip to the National Archives in Washington, DC is a must and you should be armed with names, dates, and ports of arrival to ensure some success.