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A temporary storage location for records that match some Banner selection criteria. During certain types of processing, Banner searches the database for records that match the specified criteria, and inserts them into the appropriate "collector table," which you can then review by using either a Banner form or SQL.
Think of a bus terminal. People flow in and out of the terminal as they depart and arrive. The terminal fills up with people as they wait for their bus. When the bus shows up, the people get on it, and the terminal is once again empty. A collector table is like the bus terminal. During processing, Banner collects records (passengers) that match the processing criteria (have tickets), puts them into the table (on the correct bus), and then purges them once processing is complete (leave the terminal).
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