The tachymeter will tell you how many times something will
happen in one hour. For instance, if you time a car going around a
one mile track, the tachymeter will tell you that the car was
traveling at X mph. If the track is only a half mile, then divide
by 2 to get mph (and etc. for other distances).
You can use it to tell how many times any event happens in an
hour. Time how long it takes for a machine to produce 1 widget and
the tachymeter will tell you how many it makes per hour.
It can also be used to compute distance if you know your rate of
speed. Say you're on a plane that you know is travelling at a
constant 400 mph. Start timing at one point and stop when you want
to know the distance. If your tachymeter stops at 100, you know
you've traveled four miles. 400 mph/100 = 4.