RAW == Undeveloped film. Uncooked steak.
JPEG, TIFF == Developed image (hopefully in the right way). Cooked steak.
- The camera interprets, shapens, color corrects (white balances), anti-aliases, applies noise reduction...etc.
- remember how destructive these operation in Photoshop were?
in RAW, you get to make the decision on a image by image basis, after the fact.
- RAW file = raw data from the sensor in camera
- not a file format in of itself. (Nikon uses NEF format, which is a RAW file)
You cannot change the amount of light that was exposed. If you underexposed your photograph, that is what you have to work with.