Defect profile document contains the defect information ( like Defect ID, Information about the defect, in which scenario it has occured and so on) which is extracted from the Bug tracking tool.
Bug tracking tool is a Software tool which is readily available for the testing engineer to enter/log the bugs they find in a systematic manner in which the tool is designed. Here test engineer can just use the bug tracking tool and with minimum effort can give the information about how,when the bug is occuring and generate a complete test report (defect profile document) for all the bugs he identifies from this tool and submit it to the relevant programmer/developer for fixing these bugs.
Defect Profile Document is nothing but bugs report. It contains the summary of total bugs posted in a release, their status, description, and severity and priority information. It is nothing but an excel document. All most all companies uses excel to prepare bugs report
Bug tracking tool is a tool that monitors the status from posting to its closure. It will have separate accounts for all users and the users(tesers, developers, leads and managers) and they can monitor the bugs status at any time.. It will generate mails to the users when ever any update is done to the bug.. From this bug tracking tool, we can prepare bugs reports(Defect Profile Documents)..
Defect profile document is like a bug report.The fields in the defect profile document are defect ID,Testcase ID,description,build no.,version no. etc..
A bug tracking system is a software application that is designed to help quality assurance and programmers keep track of reported software bugs in their work. It may be regarded as a type of issue tracking system.Major difference is that bug tracking system is a tool or software application but defect profile document is not a tool.
Defect profile document is a 'document' For example excel sheet.It contains all details about defect found
Bug tracking tool is a 'tool or software application' For example Bugzilla,Accurave etc.Here all the status of bug life cycle are also mentioned in sequence as the execution of test goes on(like tester raise an issue,passit to developer,developer fix it and pass it to tester, tester varifies it etc.)
I think in case of independent testing Bug tracking tool is more helpful but in case of integrated test team both(Defect profile document and bug tracking tools) serve the same purpose.
According to me Defect profile document is a document(specially we can say it is a excel sheet) which give the information about the defect i.e the defect id,enviornment etc.
But defect tracking tool(such as bugzila,accurev) is a tool which helps the tester to send the defect to the developer for fixing the defect.It can accessed by both tester as well as developer.It acts like an interface between tester and developer for identifying as well as fixing the defect.