SQL Server Integration with SharePoint Products and Technologies

SQL Server 2008 R2 offers new self-service business intelligence capability through integration with SharePoint products and technologies. In this release, both Analysis Services and Reporting Services support deployment in a SharePoint farm.
Analysis Services requires Microsoft SharePoint Server 2010 for its SharePoint integration feature, named Microsoft SQL Server PowerPivot for SharePoint. You can deploy both PowerPivot for SharePoint and Reporting Services in the same SharePoint farm if you are using SharePoint Server 2010.
Reporting Services can run on a broader range of SharePoint products and technologies than Analysis Services. You can deploy a report server in any standalone SharePoint server or server farm that is based on Windows SharePoint Services 3.0 or later, or Microsoft Office SharePoint Server 2007 or later.
When deployed in a SharePoint farm, both components are significantly different from their native mode counterparts in terms of how you install, configure, manage, and access operations and data. This section contains information about using these SQL Server feature components in SharePoint integrated mode.

Read more on reporting services integration
http://technet.microsoft.com/en-us/library/ee210649.aspx