The Effect Controls panel is specifically designed for adjusting effects applied to layers in Adobe After Effects. When you apply an effect to a layer, the Effect Controls panel provides you with a detailed interface that presents all the properties of that effect. This allows users to tweak parameters, modify settings, and customize how the effect influences the layer. It shows controls such as sliders, dropdowns, and color pickers, which are essential for fine-tuning the visual output according to the project's needs.
Other panels like the Layer Panel, Timeline Panel, and Composition Panel serve different functions in the software. The Layer Panel primarily manages the organization and hierarchy of layers, the Timeline Panel provides a chronology of layer timings and keyframes, and the Composition Panel displays the final visual output. None of these panels offer the same level of control over effects that the Effect Controls panel does, making it the go-to choice for effect adjustments in After Effects.