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At a high level, the purge functionality in GRCC is for purging incidents for AACG and ETCG. Incidents are created when the controls find violations. I hope that helps!
In a nutshell,purging is removal of data from a system or storage device with the intent that the data can not be reconstructed by any known technique. In GRC Suite purging has similar concept to purge incident stored after a long period of tie and storage (AACG). You can also purge snapshop or change tracking definitions in CCG. General rule of thumb, ensure you follow your company policies with regards to data archive and purging and access to these functionalities within the GRC Control Suite should be restricted.