What is SharePoint?

Microsoft Office SharePoint Server 2007 is an integrated suite of server capabilities that can help improve organizational effectiveness by providing comprehensive content management and enterprise search, accelerating shared business processes, and facilitating information-sharing across boundaries for better business.
SharePoint is an enterprise information portal, from Microsoft, that can be configured to run Intranet, Extranet and Internet sites. Microsoft Office SharePoint Server 2007 allows people, teams and expertise to connect and collaborate. A SharePoint enterprise portal is composed of both SharePoint Portal and Windows SharePoint Services, with SharePoint being built upon WSS.
SharePoint Server is designed for individuals, teams and projects within a medium to large company wide enterprise portal.
Additionally, this collaboration and content management server provides IT professionals and developers with the platform and tools they need for server administration, application extensibility, and interoperability.
Built on Microsoft Windows Server 2003, Windows SharePoint Services also provides a foundation platform for building Web-based business applications.

Advantages of Sharepoint server 2007:

• Provides a simple, familiar, and consistent user experience.
• Boost employee productivity by simplifying everyday business activities.
• Help meet regulatory requirements through comprehensive control over content.
• Effective management of multilingual content to gain increased business value.
• Simplify organization-wide access to both structured and unstructured information across systems. Connect people with information and expertise.
• Accelerate shared business processes across organizational boundaries without coding any custom applications.
• Enable people to make better-informed decisions by presenting business-critical information in one central location.
• Provide a single, integrated platform to manage intranet, extranet, and Internet applications across the enterprise.

Popular features:

Debugger Feature: Adds a new menu item to the Site Actions menu that attaches the debugger.
Log Viewer: Its for viewing the Unified Logging Service (ULS) logs from within Central Admin
The Toolbar Manager feature allows you to selectively show and hide menu items on the standard list/library toolbar.
Unique Column Policy feature creates a new Information Policy
Window Links allows you to control all aspects of opening the link in a new window. Activate it from the Site Collection Features page and then make a new list from the Create Page.
Its compatibility with Microsoft components makes it even more efficient fo various applications