lets start things of with what 'raw' means. 'raw' is an image that has been taken directly from the sensor to a memory storage device. The 'raw' image has not been edited by the camera. A 'raw' file has also had meta data attached to it. this data will include things such as shutter speed, aperture, focal length, lens model, camera model and many more.
With a 'raw' file you get a lot more flexibility with your image. You can control allot of things in post processing. these things vary depending on your software. I use canons own photo editing software DPP. In this software you can control things like exposure compensation, white balance, colour tone weather you want more shadows or brighter highlights, clipping the whites or the blacks, sharpness and many others
This control can be the difference between getting the shot you want or having to press the delete button and missing the moment.
If you choose to shoot in a 'raw' format you must first check you have suitable software to edit the file and convert into different formats.
As with nearly anything it is down to personal preference what format you choose to use as there are pro's and cons with both JPEG an 'raw' formats
PRO'S
JPEG
- instant capture of a moment with out the need to edit to upload to the net or to print
- great for memory shoots (point and shoot)
- smaller file size (could also be seen as con)
'raw'
- more post processing power
- larger file size (could also be seen as a con)
- more artistic flare can be implemented
- more stored meta data
JPEG
- less control over post processing
- smaller file size (again maybe seen as a pro)
- limited software that can read and edit 'raw' files
- more time in post processing
- not able to print or share via the web instantly
- not all camera models can shoot 'raw'
- a number of different 'raw' formats used
- large file size (again could be seen as a pro)