Intellisense in Microsoft Visual Studio is great feature to speedup development as it can suggests the method name, parameters, data type and hint about the method functionality and parameters use. With Intellisense we don't have to lookup in the documentation and is great time saver for the developers.
MSXRMTOOLS.Xrm.Page.2016.js provides similar capability in JavaScript for Microsoft Dynamics CRM 2016.
MSXRMTOOLS.Xrm.Page.2016.js provides following benefits for the Dynamics CRM developers:
  1. Complete methods coverage available in Dynamics CRM 2016.
  2. Suggestions for methods available in Xrm.Page namespace so that developers don't have to look up in SDK for available methods in Dynamics CRM 2016.
  3. Hint about the methods functionality available  while typing.
  4. Hint about each of the input parameters i.e. the intended purpose of each  of the parameter while typing.
  5. Shows the data type of input parameters and output value.
  6. Hint about the possible input values wherever possible while typing.
  7. Hints are same as documented in Microsoft Dynamics CRM 2016 SDK. So that developers can easily identify and correlate.
Steps for using MSXRMTOOLS.Xrm.Page.2016.js JavaScript library for Microsoft Dynamics CRM 2016 development.
  1. Drag MSXRMTOOLS.Xrm.Page.2016.js file to your .js file in your Visual Studio project. It will add a reference to MSXRMTOOLS.Xrm.Page.2016.js  in your .js file. 
  2. Now start typing Xrm. and you will see the Visual Studio intellisense suggesting the methods for Microsoft Dynamics CRM 2016 JavaScript development.