The Victory Column is a buff building. Buildable at Keep 35, and the Keep cannot reach 36 unless the Column is built (Lv1). It must be raised to level up the Dragon Cliff and Council of State; raising it requires the Holy Palace first plus owning powerful generals. Buffs by level (Lv1-11): General's basic attributes +1%->+11%; Construction Speed +5%->+80%; Research Speed +5%->+80%; March Time Reduction from Lv3 (+10%) to +42% at Lv11. Important: the General's basic-attribute buffs (Leadership/Attack/Defense/Politics) from the Column COUNT toward duty-officer appointment requirements (unlike dragon-derived buffs). All menus usable during upgrade. Upgrade requirements are unusual -- instead of only resources, each level demands owning several high-power generals and/or generals with maxed specialties (Lv1 needs Holy Palace 35 + two 5.8M-power generals; higher levels up to 18 Epic generals at star 10 and 11M-power generals; Lv11 needs Academy 45). The maxed-specialties requirement can be met with Purple Historic generals (only 3 needed). For an economy/buff bot, the Column's Construction Speed +80%, Research Speed +80% and March-Time Reduction are strong base_dev accelerators once reachable.
Original research source: Evony Guide Wiki