OSB stand for oriented strand board. The most important thing that you need to know about OSB board is that it does not have the same quality as plywood and it is generally cheaper than plywood. It also cannot be used as flooring like plywood. Other than the floor part, it is actually used the same way as plywood. The only difference would be the way they are manufactured, the price on the market and the design.
It can be used for many things like wall coverings or furniture making because its unique appearance. The special part of OSB board could add a more natural look to any room it is fitted into. It is easy to install but they need to be kept away from moisture as it can cause them to warp and lose their strength.