This page tells you about the types of searches you can have in dashboards. https://docs.splunk.com/Documentation/Splunk/8.1.3/Viz/Savedsearches but basically a base search is something that you can use as a building block for other searches, e.g. <search id="this_is_a_base_search>
<query>
index=_internal
| stats count by user
</query>
</search> and then you can have other searches that build in that, e.g. you could have a single panel showing a count for two users that uses that base search, such as <single>
<search base="this_is_a_base_search">
<query>
| where user="admin"
</query>
</search>
</single> and <single>
<search base="this_is_a_base_search">
<query>
| where user="Dheeru"
</query>
</search>
</single> they would use the results from the first search. You can also have multiple levels of base search, so a search can be also a base search but use another base search, e.g. from the above search, it could be... <single>
<search id="i_am_a_new_base_search" base="this_is_a_base_search">
<query>
| where user="Dheeru"
</query>
</search>
</single>
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