However, in this window, one can manage all the files and folders as needed.
Sometimes this name is confused with Internet Explorer, however, the functionality is for managing folders and files within your computer. These days, it's best to store your folders and files on an external media source or on the Cloud in the event of a system crash.
As seen in the image, you can create folders and name them as you want to organize your files and have them sorted in your own manner. You can also rearrange by moving files and folders or simply copy them.