When editing a Person or a Business record, Solomon keeps track of when those changes were taken place and if this was done by a collaborator you can see who edited the record.
When selecting Audit on the Business or Person page, a list view of all changes made against that record will be visible to scroll through in chronological order, the most recent being at the top.
Click on show changes to see which field was edited, what it was before and what it is now.