A file format offered by most DSLRs, mirrorless cameras and many advanced compact cameras and phones. A raw file stores the data from the sensor with very little processing. It must be processed before it becomes a normal image such as a JPEG.
Raw files usually have a higher bit depth than JPEGs, often 12 or 14 bits instead of 8. This gives more tonal information. It allows big changes to exposure, white balance, contrast and color without much loss of quality. Raw files can be uncompressed or compressed. Raw is not an abbreviation, and it is not one single format. Each manufacturer uses its own, and Adobe created the open DNG format.
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