Profiling JavaScript Code

What type of profiling setup does this code implement?
// Production profiling setup
if (process.env.ENABLE_MONITORING) {
  const data = {};
  performance.observe('measure', (list) => {
    list.getEntries().forEach(entry => {
      data[entry.name] = (data[entry.name] || []).concat(entry.duration);
    });
  });
}
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