Pensieve is a place where you can write notes and associate them with people. When you take a note, it captures the date and location to help you better recall the ideas that has to do with a context and person.
With Pensieve, you can record pieces of information about during informal interactions and because your notes live on a timeline, it is easy to look back at the notes and thoughts you recorded relating to a person.
For instance, you may have discussed an idea during coffee break with a colleague. Or if you're working on a project for a client, you can use it to take note of important details, like when you expect a document, without having to create and name a document using apps like Google Docs or Evernote for each entry.