Do I understand correctly what is .subscribe()? (Angular8)

Does subscribe update data when there is a new change??
I saw this code (for angular material table):

 this.nameFilter.valueChanges
      .subscribe(
        name => {
          this.filterValues.name = name;
          this.dataSource.filter = JSON.stringify(this.filterValues);
        }
      )

I understand from this code that each time there is a change in nameFilter variable, this information is updated in other variables/objects, does it?

Probably, can I explain that it’s like a subscription that updates me when there are new changes (so i can use the updated data)?

if you need more about this code, i copied it from here: https://stackblitz.com/edit/material-column-filter?file=src%2Fapp%2Fapp.component.ts

I so appreciate your answer and the time you spend to clarify the issue for me!

Source: Angular Questions