Install Tracking is specific to the mobile/tablet world and allows an advertiser to track when their ad campaigns have resulted in a new install. Many marketers run their own Cost-per-install (CPI) programs to encourage users to download their app and use it.
Since there’s really no way way for you to fire 3rd party tracking code directly in the app store, meaning that there is no way to detect the install event directly from the app store event, most advertisers usually end up firing the Install Tracking Event when it detects that the app has only been opened for the very first time by the new mobile owner.