Android Studio is based on the IntelliJ IDEA Community Edition and works as a WYSIWYG for creating applications. The main feature being that you can make changes and preview in real-time, totally boosting productivity. The goal is to help developers make apps faster and with more ease but still have the high standard.
Android Studio comes packed with a range of emulators for previewing your apps and also includes a development console. This offers optimization tips, revenue graphs, beta-tester controls and usage metrics. All of which will make it easier for developer to manage and polish their apps.