You just used the Hole Wizard to create a simple hole. However, the Hole Wizard is a powerful tool that can easily create a variety of holes for various standards.
The Hole Wizard can create:
Counterbore, countersink, tap, and pipe tap holes.
Multiple holes by clicking the model to position the holes.
When you combine the Hole Wizard with the SolidWorks Toolbox add-in, you can use Smart Fastener technology to quickly populate Hole Wizard holes with Toolbox fasteners.
This combination increases your productivity by allowing you to quickly create holes and fit them with appropriate fasteners.
See these resources for more information:
Toolbox Help. Click Tools, Add-Ins, then select SolidWorks Toolbox and SolidWorks Toolbox Browser to activate the Toolbox add-in and Help.
Toolbox tutorial.
Introduces you to the SolidWorks Toolbox and Smart Fasteners. Click Home 
in the SolidWorks
Tutorial, then select Toolbox.
SolidWorks Help. Smart Fasteners Overview topic.