Literally translated Laylatul Qadr means the “the night of power.” The night itself is great because a great book (the Quran) was revealed by a great angel (Jibraeel) to a great prophet (Muhammad Sallallahu Alaihi Wasallam) for a great nation (the Muslims). It could also mean that a person who spends the night in repentance and worship becomes a great person in the sight of Allah.
Qadr can also mean order or destiny. In this case it means that on this night the news of the pre-ordained events for the coming year are handed over to the angels. Thus, news of death, sustenance, Haj, rain, disasters, etc. are all written and handed over to the angels on this night.