The Contact sits under a Company and is where other records, like Opportunities, Problems and Quotes, can be created. 

From a Contact, you're able to view all Opportunities, Problems, Quotes etc. which sit under the Contact.

Selecting one of the pages on the left-hand side will show any records created at any level of the hierarchy under the Contact.

Additional records can be created from a Contact. This is done by selecting the plus icon on the right-hand side.