Schema Builder provides a dynamic environment to add new custom objects, custom fields, and relationships to your schema. This eliminates the need to click from page to page to find the details of a master-detail relationship or to add a new custom field to an object in your schema. For example, if you’re using Schema Builder to view the details of your schema, you can add a new custom object without leaving Schema Builder. The drag-and-drop interface lets you easily add a custom object or new field, and saves the layout of your schema any time you move an object.
Schema Builder provides details such as the field values, required fields, and how objects are related by displaying lookup and master-detail relationships. You can view the details for both standard and custom objects in Schema Builder.
Schema Builder is enabled by default and lets you add the following to your schema:
Custom objects
Lookup relationships
Master-detail relationships
Fields of the following types:
Auto Number
Formula
Roll-up Summary
Checkbox
Currency
Date
Date/Time
Email
Number
Percent
Phone
Picklist
Picklist (Multi-Select)
Text
Text (Encrypted)
Text Area
Long Text Area
Rich Text Area
URL
To answer your questions, I am sure we can't do everything in Schema Builder, but whatever mentioned above can be done using it and few scenarios it will be easy if you go with Schema Builder.
Schema Builder in Salesforce
Schema Builder provides a dynamic environment to add new custom objects, custom fields, and relationships to your schema. This eliminates the need to click from page to page to find the details of a master-detail relationship or to add a new custom field to an object in your schema. For example, if you’re using Schema Builder to view the details of your schema, you can add a new custom object without leaving Schema Builder. The drag-and-drop interface lets you easily add a custom object or new field, and saves the layout of your schema any time you move an object.
Schema Builder provides details such as the field values, required fields, and how objects are related by displaying lookup and master-detail relationships. You can view the details for both standard and custom objects in Schema Builder.
Schema Builder is enabled by default and lets you add the following to your schema:
To answer your questions, I am sure we can't do everything in Schema Builder, but whatever mentioned above can be done using it and few scenarios it will be easy if you go with Schema Builder.
I would recommend to go through the below links:
http://www.infallibletechie.com/2013/10/schema-builder.html
http://website-experts.ca/7-great-tools-every-salesforce-admin-should-know-about-2/
https://help.salesforce.com/HTViewHelpDoc?id=schema_builder_elements_fields.htm&language=en_US
https://help.salesforce.com/HTViewHelpDoc?id=schema_builder.htm
Go through the Trailhead module on Scehma Builder:
https://developer.salesforce.com/trailhead/en/data_modeling/schema_builder (http://www.infallibletechie.com/2013/10/schema-builder.html)
Please do let me know if it helps you.
Regards,
Mahesh