The ACADEMY is where you can manage your club's future stars. On the left are a number of actions that you can perform for each player. They are:

SCOUT: Use SCOUT to find out more about a player

DEVELOP: Use DEVELOP to train a player to the maximum potential

TALK: Use TALK to increase a player’s loyalty to keep them at the club

Each action is available in BASIC (silver), PRO (gold) and ELITE (black). You can apply the action to a player by dragging it onto the player’s name.
 
If you want to try for different actions then you can re-roll these for a few coins by tapping NEW. In the bottom-left you can unlock a guaranteed ELITE action.