What is the difference between burst and schedule options ?

One main difference between scheduling and bursting reports is that while bursting report we do not need to specify the email address of the recipient while scheduling the report while in case of bursting the email address in set in report

Burst is; Sending information to people when the information meets the criteria. i.e Balance to the the financial controller.
Schedule; Time the production of reports.

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Burst: you can send the data in n no of recipients through emails
burst option types is: automatic
email addresses
direct entries
Schedule: Its simply Refresh the report. Scheduling is the two types 1.Recursive Scheduling
2.Job Scheduling.