Since it is a console emulation, the thinking is it goes on every track, every bus and master, just like an analog console it emulates.
But like everything else, it depends upon how you hear the song. Some people put it on select tracks, or only most of them. I usually don't use it at all, but have found on certain songs (esp. rock) it has helped glue together the song by using a lot of it on tracks.
There is also an old rule - if you don't know or can't explain why you are adding an effect to a sound then don't do it. Of course, if you are learning experiment away. Just don't make a habit of adding comps or eq or anything else as a matter of course when starting a mix.
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