Hi, RAW is the data format captured by the camera's image sensor and therefore
represents the true data before in camera processing to jpeg.
TIFF and JPEG are recognised computer graphic formats.TIFF is used by professional
publishing industry as it is a higher quality format compared to jpeg.Technically speaking TIFF is a LOSSLESS format while JPEG is a LOSSY one
which basically means there is no data loss or removed/reduced for TIFF and JPEG
loses data every time you post process and save in image manupulation software
like Adobe Photoshop so there is a degradation of quality each time you PP and save file.
Once highlights,shadow details or data is lost in JPEG,it cannot be recovered in PP.
This is where RAW and TIFF has an advantage when you don't expose correctly
when picture taking by camera.Professional photographers always shoot in RAW or
RAW+JPEG for their bread and butter.Once a moment in time is lost it's lost forever
according to current physics.