Inspector allows you to interpret the currently selected byte in HEX Viewer (and the next few following it) as different data types on both Big Endian and Little Endian machines. These multiple interpretations will allow you to quickly decides which is the data type that makes most sense in the current context.

For instance, if you are trying to interpret this binary data: 68 | 65 | 6c | 6c | 6f , selecting the bytes one by one, you will see that their 8-bit char representation is respectively h | e | l | l | o , which makes sense and it's relatively safe to assume that this is what the binary snippet means.