Live Device Panel is an application that lets you connect your devices with it and access them remotely live from anywhere of world. It can be very usefull when the device is lost/stolen or left at home/office. You can access most of the important data from device remotely.
Live Device Panel is also an Parental Control and Child Monitoring application, using which you can stay updated about your child's device location and usages of various features.
As a Recovery application you can access device location, important data and can wipe the phone remotely to avoid access of data by unwanted person.