Best explained through an example.

Scenario:
Let's say I work a day job starting at 8:00.
Knowing that, I would say that any events that happen before then are events are uncharacteristically early and I would want to be sure to set my alarm to reflect this.

Settings within Business Calendar:
Given my usual start time, under the proposed optional 'smart alarm' setting, I would set my parameters to between, say, 5:00 and 7:59 on weekdays.
The result would be that, when an event is scheduled for that time, the evening before (user-defined time or number of hours) I would receive a notification that reads "hey, it looks like you might need to get up earlier than usual. Would you like to adjust your alarm?" and a link to open alarm clock app (user-defined)

Hope that explains it well and thanks for a great app!