The Bitmap operator is used to build a bitmap that, based on a hash, represents which values may be present in a data flow. Due to the chance of hash collisions in the hash function used, the Bitmap process can produce false positives but not false negatives – so a match based on a bitmap is not guaranteed to be a match to the actual data, but a non-match based on a bitmap is guaranteed to not be a match in the actual data.
The generated bitmap is typically used in other operators to remove rows for which there is no match in the bitmap, and hence guaranteed no match in the original set of data processed by the Bitmap operator. The use of Bitmap operators is most common in execution plans for star join queries in large data warehouses. An example can be seen here.
Click through for details on how it works and plenty of good information on it.