Builds are a collection of output files that you want to automate when a user runs your configurator and adds it to a quote. Builds are different than build types in that they are specific build instances that are triggered in a workflow by their type.
Related Terminology
Build Types are labels used to trigger a build in a workflow.
Outputs are files (such as a Word document or CAD drawing) created by placing the data found in a quote or configured product into a template file.
Exports are a way to export an output file to another file type.