When you wrap your installer you need to specify a range of different properties for the resulting MSI package. Properties such as the product name, product version, and manufacturer are mandatory for all installation packages. To help you set the values for these and other properties the program can auto detect most of these values.
The auto detection of properties will examine the executable installer you specified. It will also look in the registry under the uninstall information for the application id you entered or selected. Depending on the amount of information stored in the executable or the registry, it can set the values for you.
Values found in the executable installer and the registry may not match. This is why you can specify which place it should detect each individual property. The properties available in the registry and the executable is controlled by the developers of the program you are trying to create an MSI package for.