Chevrons are used in the Search List view, the Fixed List view and the Card view, to allow the user to perform an action on a single object, without having to go into the details screen of the object. It can be accessed by clicking on the chevron on the far right hand side of an item in the Fixed List, Search List or Card view.
An example of where this can be applied, could be in the Job Results screen (Below).
The actions that are available to you depend on the state of the object you have selected, and also the permissions you have in relation to the actions. For example if an object is currently deleted, you will not see a delete action but you will see a restore action (assuming the restore action is enabled and visible to you).