Once you apply an effect, you will still be able to select your original objects and edit them. The effects available from the Effect Menu can only be applied to layers, text objects or groups. You can make use of the Pathfinder Panel or the Effects menu to get access to all the effects. If you want to use your overlapping objects to create new shapes, the Pathfinder tool lets you do that. The option lets you turn holes into filled regions and vice-versa. Exclude: You can use this option to invert the geometry.

Intersect Shape Areas: You can use selected areas of a component to clip the geometry similar to a mask tool.

Subtract from Shape Area / Minus Front: This option helps you cut out the shape of a component from the geometry behind it.Add to Shape Area / Unite: You can use this option to add areas of selected components with the geometry.The tools used to edit shapes are located in the top row of the Pathfinder menu. Shape Modes in Pathfinder Tool in Illustrator From the menu displayed below, choose the shapes you want to use. If you want to make compound shapes, you can choose from the buttons in the rows located in the tool while pressing Alt or Options key.

You can either make both paths and compound paths using the tool. We can make use of the top row of buttons to make paths using the tool. 3D animation, modelling, simulation, game development & others

Minus front illustrator