Projectors have a fixed vertical offset: the image does not come out centred on the lens, it comes out above or below it depending on orientation. Optical lens shift moves the lens assembly relative to the imaging device, sliding the image up, down or sideways with no distortion and no loss of resolution. It is the difference between a projector you can put where the room allows and one that has to sit on the screen's centre line.
Ranges vary enormously. Some projectors in this catalog have none at all. Some offer ±10% vertically, which is enough to clear a coffee table. The 3LCD and LCoS home-theater models go to ±96% vertical and ±47% horizontal, which will hit a screen from almost any shelf, ceiling or back-wall position. If the mounting position is constrained, this is the spec to shop on.