You are able to rearrange and hide unwanted sections of the dashboard and profile pages. This is useful to remove system or custom field groups that are not applicable to you and remove clutter. To customize your profile pages go to any records' profile page, click the "Actions" button, and select "Edit Layout" from the dropdown. To make edits to the layout of your dashboard by clicking on the "Edit Layout" icon in the upper right. 

This will place you in editing mode where you can rearrange and remove your sections. To rearrange the sections (1) you will click the arrows and drag the modal to the desired location. To hide a certain section (2) click on the eye icon and you will see a prompt that says "hidden" letting you know that this section will no longer be visible.

Make sure to save your changes and you will see the new format you created! You can always go back and edit the page once again to unhide sections. 

Note: It is important to know that any changes you make will only be applied to your user, not account-wide. So if you rearrange or hide any sections, other users on your account will not see these changes.