Differences between JPG, PNG, GIF, RAW, & TIFF
PNG is a storage format that is lossless. This means it looks for patterns in the image it can use to compress the file into a smaller file size , which can be reversed to recover the original image.
GIF makes a table of 256 colours from any 16 million colours. It will use an algorithm to make an image that is optimum. It may use the nearest color to represent each pixel, and it can also use error diffusion to correct the pixels.
RAW is a image format that is available on some digital cameras. It is a lossless format, but is smaller in size than TIFF files which aren't compressed. Each manufacturer has their own RAW format, so you would have to use the manufacturer's software in order to view the images captured..
TIFF is a versatile format that can be lossless or lossful. Primarily use as a lossless format. TIFF images are not usually compressed, which consequently leads to a big file size.

