They measure total dissolved solids. This indicates how much stuff your RODI needs to filter out of your water to bring your tds to zero - the desirable level to use to make salt water for your reef.
The meters are useful because you can see how efficient your RODI filter is, and you can also monitor when you need to start changing filters and menbranes.
its a real important thing to know as far as making water. . the other posts answered the details of it so i am just telling you its real important to know your water quality