DNG is a lossless format, equivalent to RAW. Contrary like Raw, DNG keeps image data in a compatible, generic format. Even though it was created for applications on Adobe, any software that can read or transform DNG format can be used.
TIFF is another a lossless file, which mainly used with graphic artists, photographer, and publishers. Depends on how you save the file, information is retained in layers. `Also, since there is no loss in quality when the image is printed, it is good for printers. It is better for printers because it show more shades of colors and better visual of contrast, exposure, white balance, etc.
GIF is the file type with the moving images. Usually these files use the GIF format; this format is good for graphics and visuals with animation. Graphic artists and Web designer use them to create artworks like simple logos and banners. One con about the GIF file is that it makes the data compression very lossy, therefore not recommended for your photos
PNG was first created for a better replacement for GIF. Now it is a popular format used by photographers and graphic designers. Why you may ask? The format supports lossless data compression, making sure your information is retained when you save and reopen your image.
JPEG is mostly used for digital cameras as a default format. JPEG is one of the most common file type which is used online and/or for hard prints. Because of its lossy compression algorithm, it removes minute details that the eye is not likely to notice, which saves space.
RAW files are usually processed exactly from the camera’s sensor, so they do not use compression. Since they are lossless, the images are high-quality. RAW shows more shades of color, contrast, exposure, white balance, and better representation.