Google Panda is a update of Google that works against duplicate contents of website. If your site has unique content, then it's helpful, though it's not a ranking tool basically.
Google Panda is the latest Google’s search algorithm which aims to promote the high quality content site by dooming the rank of low quality content sites. What it does basically is rank sites based on unique content that it has rather than automated content, which is junk that you find everywhere.
Google panda is the Google's search engine spider! That indexing and giving pagerank and something more to every website in the Internet..