A BMP file is close to a raw dump of pixel data. Past a small header describing width, height and color depth, the rest of the file is just the pixels themselves, row by row, with little or no compression applied. That's why a 1920 by 1080 BMP saved at full 24-bit color can land around 6MB, while the same image as a JPEG might come in under 400KB.
JPEG isn't always the right destination
JPEG compression works by smoothing out subtle color variation, which is great for photos but rough on sharp edges. A BMP screenshot full of text or a line drawing exported from old CAD or diagramming software can pick up visible fuzz and color fringing around every letter and line once compressed as JPEG. For that kind of content, BMP to PNG keeps every edge crisp since PNG compression is lossless.
Color depth shapes what you get back
Not every BMP is full color. Older fax software, some monochrome scanners and early Windows tools often save BMPs at 1-bit or 8-bit color depth, using a small palette instead of millions of colors. Converting one of these to JPEG won't add detail that was never captured, though the file will still shrink since JPEG stores color information far more efficiently than an uncompressed palette does.
Choosing a quality setting that fits the source
The 85% default in this tool suits ordinary photos and screenshots well, keeping the file small without visible loss. Scanned documents with dense text benefit from pushing the quality up closer to 95%, since small artifacts are much more noticeable around fine letterforms. Dropping much below 70% tends to introduce blocky patches around any sharp detail in the original bitmap.