The settings tab allows you to modify the config name and descriptions. You can also set the number of days for Full rollout and Inactive days. By default the number of days is set to 7.
It also allows you to add or remove the tags to a config. In the tags field from the dropdown select the tag which you wish to attach and click on update button.
Tags help you categorize configs and assign ownership to the business teams.
For Fullroll out and Inactive days the minimum value is 1