No, this isn't the thing you see in college bars where you pick a spot and spin the wheel for a chance at a free beer. This is a beer flavour wheel and it is designed to help describe a beer. According to A Good Beer Blog:
Over 100 different flavours, in beers from around the world, have been identified by flavour experts. These flavours have been arranged in the form of the Flavour Wheel. A sort of cross between a pie-chart and a list.
I still prefer my descriptions like assy, pissy, crappy, etc. but I'll try to work these in to my tastings.