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What is it
The Non-Converting Queries (Search) tool allows you to add negative keywords for queries that have a lower CTR than the associated keyword or have no conversions even though the cost is higher than the typical CPA of the campaign. The CTR is being compared to the campaign average (Search term CTR < campaign CTR/2).
This tool also reports on search queries that were driving conversions in the past, but no longer are. In this case, the action is "include in report" not "add as negative".
The "View Analysis" button will show you the details of the conditions and how many ad groups matched, along with other details on how the rule was created. You can choose to add that particular strategy to your own Rule Engine account.
This strategy has two rules ("No conv last 90 days" and "No conv last 30 days but converted in last 90 days") that contain conditions for All conversions, CTR, Cost, Query Match type, Bid strategy type, and Advertising channel. Adding it to your account will also allow you to customize it and automate it if you want.