In Unity, the transform of an object refers to its position, rotation, and scale in 3D space. The transform of an object can be either local or global.
Local Pivot Mode
Local transform refers to the transform of an object relative to its parent object. If an object has a parent object, its local transform values are based on the parent object's local coordinate system. For example, if an object is a child of another object and is rotated 45 degrees around the Y axis, the local transform values for that object would show a rotation of 45 degrees around the Y axis.
Global Pivot Mode
Global transform, on the other hand, refers to the transform of an object in the global coordinate system. The global coordinate system is the root coordinate system of the entire scene and is not relative to any particular object. If an object is rotated 45 degrees around the Y axis, the global transform values for that object would show a rotation of 45 degrees around the Y axis regardless of the object's parent or any other objects in the scene.
It is important to understand the difference between local and global transform because it can affect how an object is rotated, scaled, or positioned in the scene. For example, if you want to rotate an object around its own center, you would use local transform. If you want to rotate an object around a point in the scene, you would use global transform.
The Local / Global mode can be toggled in the shown location: