CAB (device) is essentially the same as MSI (windows), they are both used for the installation of software (applications).
I think the real question here is:
What is an installer?
To quote wikipedia:
Common operations performed during software installations include
- Making sure that necessary system requirements are met
- Checking for existing versions of the software
- Creating or updating program files and folders
- Adding configuration data such as configuration files, Windows registry entries or environment variables
- Making the software accessible to the user, for instance by creating links, shortcuts or bookmarks
- Configuring components that run automatically, such as daemons or Windows services
- Performing product activation
- Updating the software versions
Read more about installation (computer programs) at wikipedia:
http://en.wikipedia.org/wiki/Installation_(computer_programs)