Monitoring is basically collecting information about the server.
In terms of performance monitoring, you're collecting the type of information directly related to performance such as how much memory is in use, how many and what kind of wait states are occurring, how long are the various queues on the system, how long are the queries taking to run, etc.
Tuning is then applying the information gathered through monitoring to make adjustments to code, indexes, structure, or infrastructure, in order to eliminate
the pain points identified by the monitoring.