How to Lookup error in SharePoint 2010 by Correlation ID

If you have seen an Unknown Error message popup window in SharePoint 2010 and it looks something like below, you may wonder how can I easily find out what the error is using the big clumsy GUID.

The answer you seek is in SharePoint 2010 Power Shell Window. On the SharePoint Web Server, Click on Start > All Programs > Microsoft SharePoint 2010 Products > SharePoint 2010 Management Shell

Now use the following powershell command:
get-splogevent | ?{$_.Correlation -eq "<enter the error GUID here>"} | select Area, Category, Level, EventID, Message | Format-List