[windows] What does it mean by command cd /d %~dp0 in Windows

~dp0 : d=drive, p=path, %0=full path\name of this batch-file.

cd /d %~dp0 will change the path to the same, where the batch file resides.

See for /? or call / for more details about the %~... modifiers.
See cd /? about the /d switch.