The format is designed for Kodak cameras to store uncompressed RAW images in their original form without auto color and white balance correction. The file has a TIFF-structure that allows you to edit the color temperature and exposure of the finished image without losing information and quality, which is something that cannot be done with JPEG format images.
BMP is format for storing bitmap images. In this format, you can only save bitmaps monolayer. For each pixel in different files may come different number of bits. The latest versions of the BMP has the ability to control color. In particular, you can specify the endpoints perform gamma correction and embed color profiles ICC.