If you know traditional film photography, you know the technique of "bracketing" your shots (shooting 1/2 stop under, 1 stop under, 1-1/2 stops under, 1/2 stop over, 1 stop over, 1-1/2 stops over). This is especially useful in tricky lighting situations or when you want to capture detail in areas that would normally be "blown-out" or (conversely) underexposed. In a nutshell, that is what RAW does for you, only it saves all of that digital information in one shot. Shooting as JPEG "throws away" all those extra data bits and gives you one (compromised) exposure.
So you can see why the file size of RAW is larger. It contains the data of several bracketed shots. As has been brought out above, a RAW image will probably not look better than the "compromise" JPEG image UNLESS you do post-processing on it. Even then, the improvements will depend more on your post-processing abilities and techniques, but the improvements can be stunning. Done well, post-processing can bring out detail that the eye (with it's dynamic aperture) could discern but could not be captured by the limited exposure range of film. This gets into a controversial area in which the line between "enhancement" and "fabrication" can become blurred, depending on the philosophy of the post-processor.
A Google search of "post-processing" and RAW (and perhaps your camera brand) should lead to some useful articles demonstrating techniques, workflows, and before/after images. Here are just a few that you may find informative:
Post-processing Outdoor Digital Photographs
A Digital Workflow Primer
Quick and Dirty Image Post-Processing Technique
The RAW File Format
You can use "lazy" techniques to convert your RAW images to JPEG (using for example the Adobe Camera RAW plug-in for Photoshop). This basically does the same thing that your camera would do if shooting in JPEG (pick and choose data from the RAW image to create a compromise JPEG, throwing away the other data). The benefits to this are, that you can simply creating a COPY of the RAW image and saving it as a JPEG - meaning that the RAW data is not
discarded. Therefore, if you find you have an exceptional image and would like to spend more time on it to bring out details in post-processing you have that option. You give away that option when you shoot JPEG because you let the camera throw away all of that data before it even writes the image to the card.
Regarding RAW:
.....but if you are trying to quickly view or send or post to a discussion is it the format to use?
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No. The modern web browser displays only JPEG, GIF or PNG image formats. You would need to convert a RAW image (probably to JPEG) to post to a web server/discussion board. This does not mean that one should not
shoot RAW, however (YMMV)
Darren Addy
Kearney, NE